Bill · S. 3660· Senate(119-S-3660)
Credit Card Fairness Act
- Introduced
- 1/15/2026
- Last activity
- 1/15/2026 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- John Fetterman
- Cosponsors
- - 5 - 0
- Introduced
- In Committee
What this bill would do
The Credit Card Fairness Act aims to amend the Truth in Lending Act to reduce excessive credit card late fees. This legislation intends to codify a rule from the Consumer Financial Protection Bureau regarding late fees. It seeks to limit these fees to an amount that is reasonable and proportional to the costs faced by credit card issuers. Specifically, the bill proposes a cap on late fees for large credit card issuers. The bill also establishes rules for how the Bureau may update these caps and how challenges to these provisions are handled.
Yes· 3 of 6
Does this give people more protection from unfair business practices?+7
The bill limits late fees imposed by large credit card issuers to a reasonable and proportional amount of $8.
Would households on low incomes be better off under this?+5
The cap on late fees provides direct financial relief to households facing high penalty costs for late payments.
Does this make what the government does easier for the public to see?+4
The bill requires the Bureau to publicly release research used to inform and develop proposed rules regarding late fee caps.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Lower Late Fees: A fee imposed by a large credit card issuer associated with a late payment may not exceed $8 (Section 3, subsection f, 2, A, i). This limits the amount individuals must pay when they miss a payment.
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Cost-Proportional Fees: Late fees shall not be in excess of the total costs incurred by the creditor, preventing the fees from contributing to the profits of the credit card issuer (Section 3, subsection f, 2, A, ii).
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Inflation-Adjusted Protections: The Bureau may increase the $8 cap at a rate no higher than the change in the Consumer Price Index for All Urban Consumers (Section 3, subsection f, 2, B).
Potential Negative Impacts for People
-
Limited Scope of Protection: The fee limitation applies specifically to a "large credit card issuer," defined as an issuer that had 1,000,000 or more open accounts during the preceding calendar year (Section 3, subsection f, 1, A).
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Specific Legal Constraints: Any action brought to challenge the provisions of this subsection or any decision made by the Bureau must be filed in the United States District Court for the District of Columbia (Section 3, subsection f, 3).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Low Income Households+5Good For Middle Class Households+3Good For Urban Residents+2
- Economy And Finance
- Improves Consumer Protection+7
- Governance And Ideology
- Improves Government Transparency+4
- Social Issues And Justice
- Improves Poverty Reduction+3
- 2/25/2026
- 1 Cosponsor added.
- 2/12/2026
- 1 Cosponsor added.
- 1/29/2026
- 1 Cosponsor added.
- 1/15/2026
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2 Cosponsors added.
- Introduced in Senate
Tammy BaldwinDemocrat · Wisconsin
Richard BlumenthalDemocrat · Connecticut
Cory BookerDemocrat · New Jersey
Brian SchatzDemocrat · Hawaii
Tina SmithDemocrat · Minnesota