1. United States
2. Mo.
3. Letter

The Credit Card Interest Rate Cap Act would establish a federal limit of 10% APR on credit card interest rates. Excessive interest rates burden consumers and families, trapping them in cycles of debt. Capping rates promotes fairness and responsible lending practices. This legislation protects consumers from predatory lending and unreasonable finance charges by credit card companies. Enacting an interest rate cap would provide relief to millions of Americans struggling with high-interest credit card debt. For the financial well-being of our constituents, I urge you to support this important consumer protection measure.