I 
119TH CONGRESS 
1ST SESSION H. R. 1944 
To amend the Truth in Lending Act to cap credit card interest rates at 
10 percent. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 6, 2025 
Ms. OCASIO-CORTEZ (for herself and Mrs. LUNA) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To amend the Truth in Lending Act to cap credit card 
interest rates at 10 percent. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘10 Percent Credit Card 
Interest Rate Cap Act’’. 
SEC. 2. CAP ON CREDIT CARD INTEREST RATES. 
(a) IN GENERAL.—Section 107 of the Truth in Lend-
ing Act (15 U.S.C. 1606) is amended by adding at the 
end the following: 
VerDate Sep 11 2014 
01:08 Mar 21, 2025
Jkt 059200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H1944.IH
H1944
kjohnson on DSK7ZCZBW3PROD with $$_JOB
‘‘(f)(1) The annual percentage rate applicable to an 
extension of credit obtained by use of a credit card may 
not exceed 10 percentage points, inclusive of all finance 
charges. 
‘‘(2) Any fees that are not considered finance charges 
under section 106(a) may not be used to evade the limita-
tions of paragraph (1), and the total sum of such fees may 
not exceed the total amount of finance charges assessed. 
‘‘(3) The taking, receiving, reserving, or charging of 
a credit card annual percentage rate or fee greater than 
that permitted under this subsection, when knowingly 
done, shall be deemed a violation of this title, and a for-
feiture of the entire interest which the note, bill, or other 
evidence of the obligation carries with it, or which has 
been agreed to be paid thereon. 
‘‘(4) If a credit card annual percentage rate or fee 
greater than that permitted under this subsection has 
been paid, the person by whom it has been paid, or the 
legal representative thereof, may, by bringing an action 
not later than 2 years after the date on which the usurious 
collection was last made, recover back from the lender in 
an action in the nature of an action of debt, the entire 
amount of interest, finance charges, or fees paid. 
‘‘(5) Any creditor who violates this subsection shall 
be subject to the provisions of section 130. 
VerDate Sep 11 2014 
01:08 Mar 21, 2025
Jkt 059200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H1944.IH
H1944
kjohnson on DSK7ZCZBW3PROD with $$_JOB
‘‘(g) Nothing in this section may be construed to pre-
empt any provision of State law that provides greater pro-
tection to consumers than is provided under this section.’’. 
(b) TECHNICAL AND CONFORMING AMENDMENT.— 
Section 130(a) of the Truth in Lending Act (15 U.S.C. 
1640(a)) is amended, in the matter preceding paragraph 
(1), by inserting ‘‘section 107(f),’’ before ‘‘this chapter’’. 
(c) SUNSET.— 
(1) IN GENERAL.—The Truth in Lending Act 
(15 U.S.C. 1601 et seq.) is amended— 
(A) in section 107 (15 U.S.C. 1606), by 
striking subsections (f) and (g); and 
(B) in section 130(a) (15 U.S.C. 1640(a)), 
in the matter preceding paragraph (1), by strik-
ing ‘‘section 107(f),’’. 
(2) EFFECTIVE DATE.—The amendments made 
by paragraph (1) shall take effect on January 1, 
2031. 
Æ 
VerDate Sep 11 2014 
01:08 Mar 21, 2025
Jkt 059200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6301
E:\BILLS\H1944.IH
H1944
kjohnson on DSK7ZCZBW3PROD with $$_JOB