January 29, 2026
Mr. Whitehouse (for himself, Ms. Warren, Mr. Reed, and Mr. Merkley) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To amend the Truth in Lending Act to empower the States to set the maximum annual percentage rates applicable to consumer credit transactions, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1. Short title
This Act may be cited as the Empowering States' Rights To Protect Consumers Act of 2026
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Sec. 2. Limits on annual percentage rates
(a) In general
Chapter 2 of the Truth in Lending Act (15 U.S.C. 1631 et seq.) is amended by adding at the end the following:
140B. Limits on annual percentage rates
Notwithstanding any other provision of law, the annual percentage rate applicable to any consumer credit transaction (other than a residential mortgage transaction), including any fees associated with such a transaction, may not exceed the maximum rate permitted by the laws of the State in which the consumer resides.
(b) Technical and conforming amendment
The table of contents for chapter 2 of the Truth in Lending Act is amended by adding at the end the following: