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Financial Services Committee
- Referred To
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H.R. 1944In committee
10 Percent Credit Card Interest Rate Cap Act
Introduced: Mar 6, 2025
Latest action date: Mar 6, 2025
Latest development
Referred to the House Committee on Financial Services.
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- Congress
- 119th Congress
- Introduced
- Mar 6, 2025
- Recorded roll calls
- 0
Status detail: The most advanced recorded stage is committee consideration.
Plain-language overview
What this bill does
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.
Official summary from Congress.gov.
Civixly topics
What this legislation is about
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Official CRS policy area
Finance and Financial Sector
Committee activity
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Official committee record ↗
Amendments
Proposed changes to this measure, with their latest official outcome or action from Congress.gov.
No amendments are listed for this measure.
Checked against Congress.gov Oct 1, 2026.
Action timeline
Newest action first. Action language comes from the official Congress.gov record.
View full action timeline3 actions
Referred to the House Committee on Financial Services.
IntroReferralHouse floor actionsIntroduced in House
IntroReferralLibrary of CongressIntroduced in House
IntroReferralLibrary of Congress
Roll-call votes
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No connected roll-call votes are currently available for this bill.
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