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HR 4132 103th Congress House

Credit Card Interest Rate Cap Act of 1994

Official title: To amend the Truth in Lending Act to provide for a cap on consumer credit card interest rates.

Introduced: May 17, 1994 See on congress.gov
Commerce Consumer protectionCredit cardsFinance and Financial SectorInterest rates
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This bill died when the 103rd Congress ended
It never became law before the 103rd Congress (1993–1994) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 7, 1994
Referred to the Subcommittee on Consumer Credit and Insurance.
Mar 24, 1994
Referred to the House Committee on Banking, Finance + Urban Affrs.
Mar 24, 1994
Sponsor introductory remarks on measure. (CR E559)
Mar 24, 1994
Introduced in House
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 Latest action April 7, 1994

Referred to the Subcommittee on Consumer Credit and Insurance.

 Plain-English summary Congressional Research Service

Credit Card Interest Rate Cap Act of 1994 - Expresses the sense of the Congress that: (1) low interest rates have reduced interest rates for consumer loans; (2) such low rates have not led to corresponding steep reductions in credit card interest rates; and (3) consumers are therefore paying credit card interest rates far in excess of what is warranted by economic conditions.

Amends the Truth in Lending Act to prescribe a formula for a maximum credit card interest rate.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 1
Faleomavaega, Eni
· Aug 8, 1994
 D
Velázquez, Nydia M.
New York · May 17, 1994
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4132: Credit Card Interest Rate Cap Act of 1994. 103rd Congress. Open America. https://openamerica.io/bill/103-HR-4132/
MLA
"H.R. 4132: Credit Card Interest Rate Cap Act of 1994." 103rd Congress, 2026, Open America, https://openamerica.io/bill/103-HR-4132/.
Bluebook (legal)
H.R. 4132, 103rd Cong. (2026), https://openamerica.io/bill/103-HR-4132/.
Markdown link
[H.R. 4132: Credit Card Interest Rate Cap Act of 1994](https://openamerica.io/bill/103-HR-4132/)
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