Empowering States' Rights To Protect Consumers Act of 2026

The Empowering States' Rights To Protect Consumers Act of 2026 would amend federal consumer credit law to require that annual percentage rates (APRs) for non-mortgage consumer credit - such as credit cards and personal loans - cannot exceed the maximum rate permitted by the state where the consumer resides. This means state laws, not federal limits, would set the cap for these products, directly affecting consumers in states with lower interest rate restrictions and the financial institutions offering these services. The bill adds a new section (140B) to the Truth in Lending Act, explicitly overriding federal APR rules for non-mortgage transactions. It does not apply to residential mortgages.