118th Congress · SENATE BILLBILL

S. 2760 — Capping Credit Card Interest Rates Act

“A bill to amend the Truth in Lending Act to cap credit card interest rates.”

Finance and financial sector

Introduced Sep 11, 2023

Last action Sep 11, 2023

Pipeline · Bill → Law

Step 1

Introduced

Sep 11, 2023

Step 2

Referred

Sep 11, 2023

Banking, Housing, and Urban Affairs

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill caps credit card interest rates at 18%, including all finance charges. Additional charges may not be imposed to evade this limitation. Creditors who violate this bill are subject to civil liability.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Sep 11, 2023

Introduced in Senate

Sep 11, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.