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Empowering States to Set Maximum Interest Rates on Consumer Loans

This bill allows individual states to set their own maximum interest rate limits for consumer credit. It ensures that lenders must follow the interest rate caps of the state where the borrower lives.
Key points
States can cap annual percentage rates (APR) for consumer credit transactions.
The limit includes both interest rates and all associated transaction fees.
These rules apply to credit cards and personal loans but exclude home mortgages.
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Status: Introduced
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Additional Information
Print number: 119_S_3721
Sponsor: Sen. Whitehouse, Sheldon [D-RI]
Process start date: 2026-01-29
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Empowering States' Rights To Protect Consumers Act of 2026

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_3721.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2026-01-29.

What are the main provisions?

Key points include:

  • States can cap annual percentage rates (APR) for consumer credit transactions.
  • The limit includes both interest rates and all associated transaction fees.
  • These rules apply to credit cards and personal loans but exclude home mortgages.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Whitehouse, Sheldon [D-RI].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-02-19.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Courts and Law