House bill · H.R. 1944 (119th Congress)
10 Percent Credit Card Interest Rate Cap Act
U.S. House of Representatives
Sponsor: Alexandria Ocasio-Cortez (U.S. Representative, NY-14, Democratic)
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From Congress.gov and official rosters. This record was last updated Jul 30, 2026. About our data
Summary
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.
Summary from the Congressional Research Service. How we handle summaries
Where it stands
Assigned to a committee for review.
- Introduced
- In committee
- Up for a vote
- Passed one chamber
- Passed
- Enacted
Committee
House Committee on Financial Services · U.S. House of Representatives
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Cosponsors
1
Cosponsors listed on Congress.gov, shown A to Z.
- Republican1
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Related bills
As identified by Congress.gov.
Full history
- Mar 6, 2025
Introduced
Introduced in House
U.S. House of Representatives
- Mar 6, 2025
Introduced
Introduced in U.S. House
U.S. House
- Mar 6, 2025
Referred to committee
Referred to the House Committee on Financial Services.
U.S. House of Representatives
Read the record
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