Senate Bill Advances Proposal to Grant States Authority to Cap Credit Card Interest Rates

Senate Bill Proposes State-Level Caps on Credit Card Interest Rates·Latest event January 29, 2026

This story covers one chapter of a longer effort: Allow state governments to enforce their own consumer protection laws against national companies.View effort →

Mar 25

Senate Bill Advances Proposal to Grant States Authority to Cap Credit Card Interest Rates

Senate Bill 3721 is currently stalled in the Committee on Banking, Housing, and Urban Affairs with no scheduled votes. If enacted, the bill would allow states to enforce their own interest rate limits on national banks, potentially lowering costs for borrowers in high-protection states.

Feb 1

Senator Elizabeth Warren pushes for bill allowing states to cap credit card interest rates

Senator Elizabeth Warren advocated for the bill on social media, arguing that current federal law unfairly prevents states from capping credit card rates.

Jamie Dimon and @postopinions.bsky.social should check their facts. Right now, federal law prevents states from doing th

Jan 28

Senate Introduces Bill to Cap Credit Card Interest Rates, Sends to Banking Committee

The legislation was officially introduced in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs.

S. 3721Senate Bill Proposes Giving States Power to Cap Interest Rates on Credit Cards and Loans

Jan 1

Senate sponsors target out-of-state bank interest rate exportation to boost consumer protections.

Legislative sponsors identified the 'exportation' of interest rates by out-of-state banks as a key target for consumer protection reform.

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Senate Bill Proposes Giving States Power to Cap Interest Rates on Credit Cards and Loans

S. 3721

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