Summary

Sets a national cap on credit card interest rates and blocks add‑on fees that try to get around that cap. If a lender charges above the cap, consumers gain clear rights to recover what they paid and seek other relief under existing Truth in Lending Act tools. Keeps stronger state interest‑rate protections in place and makes a small technical fix to Truth in Lending Act remedies. The cap and related rules automatically end on January 1, 2031, unless renewed.

Key Points

• Creates a nationwide cap on credit card interest rates within TILA.
• Prevents circumvention by restricting fees that would raise costs above the cap.
• Adds consumer remedies to recover amounts paid above the cap and seek relief under TILA.
• Preserves stronger state protections; stricter state caps still apply.
• Includes a technical fix to TILA’s civil liability language for consistency.
• Sunsets the new provisions on January 1, 2031.
• Uses TILA’s existing enforcement pathways (regulators and private lawsuits).
• Forces issuers to revisit pricing, fee structures, and compliance controls.