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Senate bill · S. 381 (119th Congress)

10 Percent Credit Card Interest Rate Cap Act

U.S. Senate

Latest action Oct 8, 2025

Sponsor: Bernard Sanders (U.S. Senator for Vermont, Independent)

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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.

  1. Introduced
  2. In committee
  3. Up for a vote
  4. Passed one chamber
  5. Passed
  6. Enacted

Committee

Senate Committee on Banking, Housing, and Urban Affairs · U.S. Senate

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Cosponsors

3

Cosponsors listed on Congress.gov, shown A to Z.

  • Democratic2
  • Republican1

This bill has cosponsors from more than one party.

Shown in neutral colors by design; Agora is non-partisan.

Related bills

As identified by Congress.gov.

Full history

  1. Oct 8, 2025

    Introduced

    Introduced in U.S. Senate

    U.S. Senate

  2. Feb 4, 2025

    Introduced

    Introduced in Senate

    U.S. Senate

  3. Feb 4, 2025

    In committee

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

    U.S. Senate

  4. Feb 4, 2025

    Referred to committee

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

  5. Feb 4, 2025

    Referred to committee

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

Show full history (1 earlier event)
  1. Feb 4, 2025

    Referred to committee

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

Read the record