United States 119th Congress Status: In Committee 16 D cosponsors

S 3793 — Predatory Lending Elimination Act

Last action — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S511-512)

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced February 05, 2026. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Prognosis

Stalled 26% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 16 sponsors

    1 primary, 15 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (16 D).

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

How this bill changes current law

7 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill extends consumer credit protections previously only available to members of the Armed Forces to all consumers and establishes limitations on consumer credit and maximum interest rates.

  • 15 U.S.C. § 1631

    Sec. 140B. Limitations on consumer credit and maximum rates of interest (a) Application of the Military Lending Act. (1) In general.--Except as provided in paragraph (2), section 987(b) of title 10, United States Code, shall apply to a creditor who extends consumer credit to a consumer to the same extent as that section applies to a creditor who extends consumer credit to a covered member or a dependent, as those terms are defined in such section 987.

    Introduces new provisions for the limitation of consumer credit and maximum interest rates based on the Military Lending Act for all consumers.

  • 15 U.S.C. § 1631

    (b) No Exemptions Permitted.--The exemption authority of the Bureau under section 105(f) shall not apply with respect to this section.

    Clarifies that the Bureau's exemption authority does not apply to the new consumer credit limitations.

  • 15 U.S.C. § 1631

    (c) Calculation of the Annual Percentage Rate for Open-End Credit.--(1) In general.--For purposes of this section, the annual percentage rate applicable to an open-end credit plan shall be calculated under section 107(a)(2), subject to adjustments to the amount considered a finance charge, as provided in the rules issued by the Secretary of Defense on July 22, 2015, to carry out section 987 of title 10, United States Code.

    Establishes a new method for calculating the annual percentage rate for open-end credit plans.

  • 15 U.S.C. § 1631

    (d) Relation to State Law.--Nothing in this section may be construed to preempt any provision of State law that provides greater protection to consumers than is provided under this section.

    Ensures that state laws providing greater consumer protections are not overridden.

  • 15 U.S.C. § 1631

    (e) Penalties and Remedies.--Section 987(f) of title 10, United States Code, shall apply to a creditor who extends consumer credit to a consumer in violation of this section to the same extent as such section 987(f) applies to a creditor who extends consumer credit to a covered member or a dependent, as those terms are defined in such section 987.

    Applies penalties and remedies from the Military Lending Act to violations of the new consumer credit protections.

  • 15 U.S.C. § 1631

    (f) Preservation of State Enforcement.--(1) State attorneys general.--Not later than 3 years after the date on which a violation of this section occurs, the attorney general of a State (or an equivalent official) may bring a civil action in the name of that State in any district court of the United States that is located in that State or in a State court that is located in that State and that has jurisdiction over the defendant to enforce provisions of this section or rules issued under this section.

    Allows state attorneys general to enforce the new consumer credit protections.

  • 15 U.S.C. § 1631

    (g) Regulations.--(1) In general.--Notwithstanding section 1027(o) of the Consumer Financial Protection Act (12 U.S.C. 5517(o)), not later than 1 year after the date of enactment of this section, the Bureau, in consultation with the Secretary of Defense, shall issue rules carrying out this section.

    Requires the Bureau to issue regulations to implement the new consumer credit protections.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S511-512)

Sponsors

Sponsorship breakdown

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1 sponsors · 15 co-sponsors · 531 not signed on

Sponsors (1)

Co-sponsors (15)

Not signed on (531)

531 members have not signed on to this bill.

Show all 531 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors S 3793?
S 3793 is sponsored by Blumenthal, Richard (Democratic), Duckworth, Tammy (Democratic), Fetterman, John (Democratic), Heinrich, Martin (Democratic), Luján, Ben Ray (Democratic), Merkley, Jeff (Democratic), Padilla, Alex (Democratic), Schatz, Brian (Democratic), Smith, Tina (Democratic), Van Hollen, Chris (Democratic), Whitehouse, Sheldon (Democratic), Warnock, Raphael G. (Democratic), Welch, Peter (Democratic), Wyden, Ron (Democratic), Booker, Cory A. (Democratic), and Reed, Jack (Democratic).
What is the current status of S 3793?
This bill is in committee in the Senate. Introduced February 05, 2026. It must pass committee before a floor vote.
Where can I track S 3793?
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