Interest Rate, Usury & Other Credit Laws Archives

Fact Sheet: State Annual Percentage Rate (APR) Caps for $500, $2,000, and $10,000 Installment Loans

December 18, 2025

A summary of the U.S. states that cap the maximum annual percentage rate (APR) on small - to mid-size installment loans.

Comments to the FDIC Regarding Small Dollar Lending

January 22, 2019

Comments of the Center for Responsible Lending and National Consumer Law Center (on behalf of its low income clients), joined by Americans for Financial Reform Education Fund, The Leadership Conference on Civil and Human Rights, and NAACP in response to the FDIC’s request for information (RFI) on small-dollar lending

Comments to NCUA Regarding CUSO Proposed Rule

April 30, 2021

Comments to the National Credit Union Administration re: Comments on Proposed Rule: Credit Union Service Organizations (CUSOs), RIN 3133-AE95

Comments on FDIC Notice of Proposed Rulemaking, Federal Interest Rate Authority

February 4, 2020

Comments by NCLC, Consumer and Civil Rights Groups to FDIC re: Comments on FDIC Notice of Proposed Rulemaking, Federal Interest Rate Authority, 12 CFR Part 331, RIN-3064-AF21

Coalition Letter Supporting the Veterans and Consumers Fair Credit Act

July 29, 2021

Coalition Letter to the Committee on Banking, Housing, and Urban Affairs re: Support for Veterans and Consumers Fair Credit Act

Amicus Brief in David Petersen, Et Al v. Chase Card Funding, LLC

February 7, 2020

Amicus Brief by the National Consumer Law Center and the Center for Responsible Lending supporting neither party in David Petersen, et al v. Chase Card Funding, LLC, Chase Issuance Trust, and Wilmington Trust Company, as Trustee of Chase Issuance Trust filed with the U.S. Western District Court of New York

High-Cost Credit

50-State Survey: State Predatory Lending Laws Show Significant Changes

June 22, 2022

June 22, 2022 NCLC’s Review of State Consumer Protection Laws Sees States Gaining, Losing Protections for Popular $2,000 Two-Year and $500 Six-Month Installment Loans WASHINGTON – A new report from the National Consumer Law Center finds progress toward a 36% APR cap for common short-term and longer-term loans in some states. In states that allow…

What States Can Do to Help Consumers: High Cost Loans

March 15, 2022

The debt trap caused by short-term payday loans is well known. Payday and car title lenders are now increasingly moving into high-cost longer-term installment loans and lines of credit that can be a deeper and longer debt trap. Both short- and longer-term payday and title loans rely on high interest rates and coercive tactics to…

U.S. House Introduces 36% Rate Cap Bill to Curb High-Cost, Predatory Loans

November 17, 2021

November 17, 2021 Bipartisan bill enacts rate cap popular among voters of all stripes WASHINGTON – Advocates at the National Consumer Law Center applauded the introduction of the Veterans and Consumers Fair Credit Act (VCFCA) in the U.S. House of Representatives, led by Rep. Jesus “Chuy” Garcia (D-IL) and Rep. Glenn Grothman (R-WI). “Republican and…

NCLC Advocates Applaud 36% National Rate Cap Bill to Curb High-Cost, Predatory Loans Across the Nation

July 29, 2021

FOR IMMEDIATE RELEASE: July 29, 2021 Washington, D.C. – Attorneys at the National Consumer Law Center praised the introduction yesterday of the Veterans and Consumers Fair Credit Act in the U.S. Senate, led by U.S. Senators Jack Reed (D-RI), Jeff Merkley (D-OR), Sherrod Brown (D-OH), and Chris Van Hollen (D-MD), along with seven other original…

National Consumer Law Center Advocates Praise U.S. House Vote to Repeal National Banking Regulator’s Predatory Lending Rule

June 24, 2021

OCC Rule Protects High-Cost Lenders that use Rent-a-Bank Schemes to Evade State Interest Rate Laws Washington, D.C. – Advocates at the National Consumer Law Center applaud the U.S. House vote to overturn the OCC’s “fake lender” rule, which allows predatory lenders to evade state interest rate laws by putting a federally-chartered bank’s name on the paperwork. The…

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