Predatory Lending Elimination Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Sponsors
- 16
- Latest action
- Feb 5, 2026
What it does
The Predatory Lending Elimination Act would extend the consumer credit protections of the Military Lending Act—including a 36% annual percentage rate cap and restrictions on certain fees—to all consumers, not just members of the Armed Forces and their dependents. It would apply to most types of consumer credit, excluding residential mortgages, auto purchase loans secured by the vehicle, and loans from federal credit unions subject to their own interest rate limits. The bill requires the Consumer Financial Protection Bureau to issue implementing rules within one year of enactment, allows state attorneys general and regulators to enforce the law, and preserves stronger state consumer…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money.