S 3793 · 119th Congress

Predatory Lending Elimination Act

Right now, members of the military and their families get special protections when borrowing money—lenders can't charge them more than 36% interest per year, and there are strict limits on fees and other charges that can be added to loans. This bill extends those same protections to every American consumer. Instead…

Sponsor

Reed, Jack (D-Rhode Island)

Introduced

2026-02-05

Policy area

Finance and Financial Sector

Latest action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S511-512)