# 119-s-3793: Predatory Lending Elimination Act

119-s-3793, Predatory Lending Elimination Act, is a 119th Congress bill sponsored by Sen. Reed, Jack [D-RI] (D-RI); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-3793
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-3793
- Congress: 119
- Title: Predatory Lending Elimination Act
- Status: introduced
- Introduced: 2026-02-05
- Sponsor: Sen. Reed, Jack [D-RI] (D-RI)
- Cosponsors: 15
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Extends the Military Lending Act's consumer protections to most consumer credit nationwide.** It would apply the MLA's limits on interest and many fees to most consumer loans while carving out residential mortgages, auto purchase loans used to buy a car, and certain federal credit union loans. The Consumer Financial Protection Bureau would have one year to write rules and the protections would take effect when those rules require compliance or 18 months after enactment, whichever is earlier. - Consumers and households: Most borrowers would get MLA-style limits on rates and many fees for both open- and closed-end credit, with explicit exceptions for residential mortgages and qualifying auto purchase loans. - Creditors and card issuers: Lenders would need to calculate APRs for open-end accounts consistent with Department of Defense rules as of July 22, 2015, and some credit card fees may be excluded from finance charges only if they meet specific rules; credit insurance and debt cancellation fees must still be included. - States and enforcement: State attorneys general and regulators would have a three-year window to bring civil actions or other enforcement, and state laws that give greater consumer protections would remain intact.

## Cosponsors (15)

- Sen. Blumenthal, Richard [D-CT] (D-CT), 2026-02-05T00:00:00.000Z
- Sen. Duckworth, Tammy [D-IL] (D-IL), 2026-02-05T00:00:00.000Z
- Sen. Fetterman, John [D-PA] (D-PA), 2026-02-05T00:00:00.000Z
- Sen. Heinrich, Martin [D-NM] (D-NM), 2026-02-05T00:00:00.000Z
- Sen. Luján, Ben Ray [D-NM] (D-NM), 2026-02-05T00:00:00.000Z
- Sen. Merkley, Jeff [D-OR] (D-OR), 2026-02-05T00:00:00.000Z
- Sen. Padilla, Alex [D-CA] (D-CA), 2026-02-05T00:00:00.000Z
- Sen. Schatz, Brian [D-HI] (D-HI), 2026-02-05T00:00:00.000Z
- Sen. Smith, Tina [D-MN] (D-MN), 2026-02-05T00:00:00.000Z
- Sen. Van Hollen, Chris [D-MD] (D-MD), 2026-02-05T00:00:00.000Z
- Sen. Whitehouse, Sheldon [D-RI] (D-RI), 2026-02-05T00:00:00.000Z
- Sen. Warnock, Raphael G. [D-GA] (D-GA), 2026-02-05T00:00:00.000Z
- Sen. Welch, Peter [D-VT] (D-VT), 2026-02-05T00:00:00.000Z
- Sen. Wyden, Ron [D-OR] (D-OR), 2026-02-05T00:00:00.000Z
- Sen. Booker, Cory A. [D-NJ] (D-NJ), 2026-02-05T00:00:00.000Z

## Provisions PRIA read

- Consumer Bureau rule deadline and limits: benefit, medium. If enacted, the Consumer Financial Protection Bureau would have one year to issue rules to carry out this section. The Bureau would consult the Secretary of Defense and must notify Congress and the public when it issues those rules. The rules would have to be at least as protective as the Departmen…
- State consumer laws and enforcement: benefit, medium. If enacted, this section would not override State laws that give consumers more protection. State attorneys general would have three years after a violation to sue in state or federal court to enforce these rules. State regulators would also have three years to bring enforcement actions against sta…
- Military-rate protections for consumers: mixed, medium. If enacted, this bill would apply Military Lending Act protections and the same penalties to most consumer credit. It would not cover residential mortgages, car-purchase loans that are secured by the car, or some Federal credit union loans. For open-end credit, APRs would be calculated using the me…

## Related bills

- 119-s-5066: Health Equity and Accountability Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-51: Washington, D.C. Admission Act
- 119-s-5108: Right to IVF Act of 2026
- 119-s-1503: Equality Act
- 119-s-2295: Child Care for Working Families Act

## Sources
- [119-s-3793 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/3793)

## Related
- [119-s-5066: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-s-5066)
- [119-s-2823: FAMILY Act](https://policyrisk.com/legislation/119-s-2823)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108)
- [119-s-1503: Equality Act](https://policyrisk.com/legislation/119-s-1503)
- [119-s-2295: Child Care for Working Families Act](https://policyrisk.com/legislation/119-s-2295)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-3793 (as of 2026-04-21).