United States · Bill · S
S. 381 (119th)
10 Percent Credit Card Interest Rate Cap Act
Introduced
4 February 2025
Last action
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Status
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsors
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Subjects
Discovery layer
Source updated
5 December 2025
Summary
10 Percent Credit Card Interest Rate Cap Act This bill temporarily caps credit card interest rates at 10%. Creditors that knowingly violate this bill forfeit the entire interest of the debt. The bill also provides a private right of action for debtors to recover interest, finance charges, or fees. The action must be brought within two years of the violation. In addition, violations of this bill are subject to civil liability under the Truth in Lending Act, which is enforced by the Consumer Financial Protection Bureau and the Federal Trade Commission. These changes sunset on January 1, 2031.
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Documents
2 official files
Introduced in Senate
Introduced in Senate
Introduced in Senate · EN · 4 February 2025
Introduced in Senate
summary · EN · 4 February 2025
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Sources
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- Official source: https://www.congress.gov/bill/119th-congress/senate-bill/381
- Open data entity: https://api.congress.gov/v3/bill/119/s/381