[Congressional Record Volume 169, Number 149 (Thursday, September 14, 2023)]
[Senate]
[Page S4541]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  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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