Credit Regulation - Maximum Interest Rate for Active Service Members (Service Members Civil Relief Act)

This bill caps interest rates at 6% annually on loans held by active-duty military members (or jointly with their spouses) during active service. Creditors must reduce rates to 6% and forgive excess interest charges, while recalculating payments due during service at the lower rate. Service members must provide military orders to creditors within 180 days of returning from duty to qualify. Courts may override this cap if they determine active duty did not materially affect the member's ability to pay higher interest.