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HR 1944 119th Congress House Finance and Financial Sector

10 Percent Credit Card Interest Rate Cap Act

Introduced: March 6, 2025 Introduced by: Ocasio-Cortez, Alexandria Democratic · New York See on congress.gov
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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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 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. 

What's happening now March 6, 2025

Referred to the House Committee on Financial Services.

 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 72

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

  • MICHIGAN CREDIT UNION LEAGUE
    for MICHIGAN CREDIT UNION LEAGUE · Michigan · 2nd Quarter (Apr 1 - June 30) 2026
  • HARBINGER STRATEGIES, LLC
    for CITIGROUP WASHINGTON INC. · District of Columbia · 1st Quarter (Jan 1 - Mar 31) 2026
  • CITIGROUP WASHINGTON, INC.
    for CITIGROUP WASHINGTON, INC. · District of Columbia · 1st Quarter (Jan 1 - Mar 31) 2026
  • CGCN GROUP, LLC
    for MASTERCARD WORLDWIDE · District of Columbia · 1st Quarter (Jan 1 - Mar 31) 2026
  • CGCN GROUP, LLC
    for ELECTRONIC PAYMENTS COALITION · District of Columbia · 1st Quarter (Jan 1 - Mar 31) 2026
  • AMERICAN BANKERS ASSOCIATION
    for AMERICAN BANKERS ASSOCIATION · District of Columbia · 1st Quarter (Jan 1 - Mar 31) 2026
See all 72 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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