The Empowering States' Rights To Protect Consumers Act of 2026 would amend federal lending law to allow individual states to set their own maximum interest rates for consumer credit products like personal loans and credit cards, rather than having uniform federal limits. Currently, federal law sets broad lending standards, but this bill would give states the power to impose stricter interest rate caps if they choose. The legislation affects consumers seeking credit and the lending industry operating across state lines. The bill contains no specific funding provisions or implementation timelines—it simply changes which level of government has authority over interest rate limits. This approach would likely result in a patchwork of different rates across states, potentially making it more expensive for consumers in states with higher rate caps and more restrictive for lenders operating nationally.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.