# 119-s-381: 10 Percent Credit Card Interest Rate Cap Act

119-s-381, 10 Percent Credit Card Interest Rate Cap Act, is a 119th Congress bill sponsored by Sen. Sanders, Bernard [I-VT] (I-VT); status introduced; PRIA reads it as touching household money (as of 2025-12-21).

- Canonical: https://policyrisk.com/legislation/119-s-381
- As of: 2025-12-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-381
- Congress: 119
- Title: 10 Percent Credit Card Interest Rate Cap Act
- Status: introduced
- Introduced: 2025-02-04
- Sponsor: Sen. Sanders, Bernard [I-VT] (I-VT)
- Cosponsors: 3
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2025-12-21

## Summary

**Caps credit card APRs at 10% nationwide.** This bill would limit the annual percentage rate on credit-card extensions of credit to 10 percent inclusive of all finance charges and would include penalties and a private right of action. The cap and related rules would expire on January 1, 2031. - Consumers and families: Cardholders would be covered by a 10% APR cap that counts all finance charges. Borrowers could sue within two years of the last usurious collection to recover interest, finance charges, or fees they paid. - Creditors and issuers: Lenders who knowingly charge an APR or fees above the limit would forfeit the entire interest stated in the account. The bill bars non-finance-charge fees from being used to evade the cap and limits those fees to no more than the total finance charges. - Enforcement and state law: Violations would be subject to civil liability under the Truth in Lending Act and enforced by the Consumer Financial Protection Bureau and the Federal Trade Commission. The bill allows states to keep or adopt stronger consumer protections.

## Cosponsors (3)

- Sen. Hawley, Josh [R-MO] (R-MO), 2025-02-04T00:00:00.000Z
- Sen. Merkley, Jeff [D-OR] (D-OR), 2025-03-11T00:00:00.000Z
- Sen. Gillibrand, Kirsten E. [D-NY] (D-NY), 2025-10-08T00:00:00.000Z

## Provisions PRIA read

- 10% cap on credit card interest: benefit, medium. If enacted, you could not be charged more than a 10% APR on credit cards. That 10% would include all finance charges. Creditors could not use other fees to get around the cap. Those extra fees could not be more than the finance charges assessed. If a cardholder knowingly paid interest or fees above…

## Related bills

- 119-s-891: Bipartisan Health Care Act
- 119-s-5071: Children's Safe Welcome Act of 2026
- 119-s-2819: Head Start for America's Children Act
- 119-s-5283: Momnibus Act
- 119-s-1507: Agriculture Resilience Act of 2025
- 119-s-3990: PrEP Access and Coverage Act of 2026

## Sources
- [119-s-381 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/381)

## Related
- [119-s-891: Bipartisan Health Care Act](https://policyrisk.com/legislation/119-s-891)
- [119-s-5071: Children's Safe Welcome Act of 2026](https://policyrisk.com/legislation/119-s-5071)
- [119-s-2819: Head Start for America's Children Act](https://policyrisk.com/legislation/119-s-2819)
- [119-s-5283: Momnibus Act](https://policyrisk.com/legislation/119-s-5283)
- [119-s-1507: Agriculture Resilience Act of 2025](https://policyrisk.com/legislation/119-s-1507)
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-381 (as of 2025-12-21).