Empowering States' Rights To Protect Consumers Act of 2026

This bill seeks to amend the Truth in Lending Act to grant states greater authority over consumer credit interest rates. It introduces a new section specifying limits on annual percentage rates for various transactions. The central provision dictates that the annual percentage rate applicable to any consumer credit transaction, excluding residential mortgage transactions, may not exceed the maximum rate permitted by the laws of the state in which the consumer resides. This cap includes all associated fees, ensuring a comprehensive limit on borrowing costs. The legislation effectively empowers states to regulate and protect their residents from potentially excessive interest rates on consumer credit.