10 Percent Credit Card Interest Rate Cap Act

This bill would temporarily limit credit card interest rates to no more than 10%. If a credit card company knowingly charges more than that, it would lose the right to collect any interest on that debt. People who are charged too much could sue to get back the interest, fees, or finance charges they paid, as long as they file the lawsuit within two years. These rules would end on January 1, 2031.

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