Securing Energy Supply Chains Act

Senate Bill

S. 1934

119th Congress

Securing Energy Supply Chains Act

In Committee

Introduced:Jun 3, 2025

Primary Sponsor

Christopher Murphy

Senator

Democratic

CT

Cosponsors

4

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill would limit the maximum interest rate that lenders can charge on consumer loans, like credit cards, car loans, and personal loans, to the rate allowed in the state where the borrower lives. This aims to protect consumers from high-interest rates.

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

SponsorChristopher Murphy (D-CT)

Introduced6/3/2025

StatusRead twice and referred to the Committee on Energy and Natural Resources.

ChamberSenate

Data from Congress.gov

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Vote Prediction

Securing Energy Supply Chains Act

This bill would limit the maximum interest rate that lenders can charge on consumer loans, like credit cards, car loans, and personal loans, to the rate allowed in the state where the borrower lives. This aims to protect consumers from high-interest rates.

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This bill would limit the maximum interest rate that lenders can charge on consumer loans, like credit cards, car loans, and personal loans, to the rate allowed in the state where the borrower lives. This aims to protect consumers from high-interest rates.

Bill Number: 1934
Sponsor: Christopher Murphy (D-CT)
Introduced: 6/3/2025
Status: Read twice and referred to the Committee on Energy and Natural Resources.
Policy Area: Finance and Financial Sector

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Securing Energy Supply Chains Act
Bill Number: 1934
Sponsor: Christopher Murphy (D-CT)
Status: Read twice and referred to the Committee on Energy and Natural Resources.
Introduced: 6/3/2025
Summary: This bill would limit the maximum interest rate that lenders can charge on consumer loans, like credit cards, car loans, and personal loans, to the rate allowed in the state where the borrower lives. This aims to protect consumers from high-interest rates.

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would limit the maximum interest rate that lenders can charge on consumer loans, like credit cards, car loans, and personal loans, to the rate allowed in the state where the borrower lives. This aims to protect consumers from high-interest rates.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Empowering States' Rights To Protect Consumers Act of 2023 This bill limits the annual percentage rate applicable to any consumer credit transaction (other than a residential mortgage transaction), including any associated fees, to the maximum rate permitted by the laws of the state in which the consumer resides.

Key Points

Main provisions of the bill

Limits the maximum annual percentage rate (APR) on consumer loans to the rate permitted by the borrower's state
Applies to all consumer credit transactions except residential mortgages
Gives states more power to set limits on interest rates charged to their residents
Intended to safeguard consumers from predatory lending practices

How This Impacts Americans

Potential effects on citizens and communities

If this bill becomes law, it would primarily impact consumers who use credit cards, take out personal loans, or finance purchases like cars. It would protect these borrowers from being charged excessively high interest rates, which can make debt more difficult to pay off. Lower-income and financially vulnerable consumers would likely see the greatest benefits.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

1934, 119th Congress (2025). "Securing Energy Supply Chains Act". Source: Voter's Right Platform. https://votersright.org/bills/118-s-1934

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