Mississippi Credit Availability Act; extend repealer, revise and create cap adjustment based on the CPI-U.

Higher borrowing caps with yearly inflation changes

Beginning July 1, 2025, the law raises the maximum unpaid principal from $2,500 to $3,250 for credit availability accounts created for transactions over $500. Starting with calendar year 2025, annual adjustments apply the prior year's Consumer Price Index for All Urban Consumers change to the previous cap. The cap can rise or fall, with the result rounded up to the nearest $10. The state banking department must issue a memo authorizing the adjusted cap by July 1 of the following year. The law also delays the credit availability rules' repeal from July 1, 2026, to July 1, 2030.