S.Amdt. 1225

SA 1225. Mr. HAWLEY submitted an amendment intended to be proposed to
amendment SA 1092 proposed by Mrs. Murray (for herself and Ms. Collins)
to the bill H.R. 4366, making appropriations for military construction,
the Department of Veterans Affairs, and related agencies for the fiscal
year ending September 30, 2024, and for other purposes; which was
ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. _____. CAP ON CREDIT CARD INTEREST RATES.

Section 107 of the Truth in Lending Act (15 U.S.C. 1606) is
amended by adding at the end the following:
``(f)(1) The annual percentage rate applicable to an
extension of credit obtained by use of a credit card may not
exceed 18 percentage points, inclusive of all finance
charges.
``(2) Any fees that are not considered finance charges
under section 106(a) may not be used to evade the limitations
of this paragraph, and the total sum of such fees may not
exceed the total amount of finance charges assessed.
``(3) Any creditor who violates this subsection shall be
subject to the provisions of section 130.''.
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