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H.R. 1944 119th Congress House

10 Percent Credit Card Interest Rate Cap Act

Official title: To amend the Truth in Lending Act to cap credit card interest rates at 10 percent.

Introduced: March 6, 2025 Introduced by: Alexandria Ocasio-Cortez Democratic · New York See on congress.gov
Finance and Financial Sector
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 6, 2025
Referred to the House Committee on Financial Services.
Mar 6, 2025
Introduced in House
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What's happening now March 6, 2025

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

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. 

 Related & companion bills 1
  • S 381 Identical bill 10 Percent Credit Card Interest Rate Cap Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 100

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

  • CGCN GROUP, LLC
    for MASTERCARD WORLDWIDE · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
  • CITIGROUP WASHINGTON, INC.
    for CITIGROUP WASHINGTON, INC. · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
  • CITIGROUP WASHINGTON, INC.
    for CITIGROUP WASHINGTON, INC. · District of Columbia · 4th Quarter 2025 (Oct 1 - Dec 31)
  • SYNCHRONY FINANCIAL
    for SYNCHRONY FINANCIAL · Connecticut · 3rd Quarter 2026 (July 1 - Sep 30)
  • CGCN GROUP, LLC
    for ELECTRONIC PAYMENTS COALITION · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
  • JPMORGAN CHASE HOLDINGS LLC
    for JPMORGAN CHASE HOLDINGS LLC · New York · 3rd Quarter 2026 (July 1 - Sep 30)

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

See all 100 filings →
 Cosponsors 1
All 1 Republican 1
R
Luna, Anna Paulina
Florida · Mar 6, 2025
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1944: 10 Percent Credit Card Interest Rate Cap Act. 119th Congress. Open America. https://openamerica.io/bill/119-HR-1944/
MLA
"H.R. 1944: 10 Percent Credit Card Interest Rate Cap Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-1944/.
Bluebook (legal)
H.R. 1944, 119th Cong. (2026), https://openamerica.io/bill/119-HR-1944/.
Markdown link
[H.R. 1944: 10 Percent Credit Card Interest Rate Cap Act](https://openamerica.io/bill/119-HR-1944/)
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