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Read. Follow. Verify.North Carolina lowers credit card interest rate cap to 1.17 percent monthly
Last action · April 17, 2025: Serial Referral To Rules, Calendar, and Operations of the House Added (House action)Sponsors: Lowery and 2 others
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What This Bill Would Do
House Bill 508 reduces the maximum allowable monthly interest rate on and revolving credit card plans from 1.5% to 1.17% in North Carolina, starting October 1, 2025.
Consumers with revolving credit card balances will see a reduction in the maximum monthly finance charges lenders can assess on their unpaid balances.
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
consumers
Consumers holding revolving credit card balances are subject to a lower maximum monthly interest rate cap of 1.17%.
lenders
Banking institutions and lending agencies must cap their monthly interest and finance charges on open-end and revolving credit plans at 1.17%.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
When does this change take effect?
Can lenders still charge late fees?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently on floor. The next step in the legislative lifecycle is Passed.
Procedural history
7 actions- Apr 17, 2025HouseSerial Referral To Rules, Calendar, and Operations of the House Added
- Apr 17, 2025HouseSerial Referral To Judiciary 1 Added
- Apr 17, 2025HouseSerial Referral To Rules, Calendar, and Operations of the House Stricken
- Apr 17, 2025HouseSerial Referral To Finance Stricken
- Mar 26, 2025HouseRef to the Com on Commerce and Economic Development, if favorable, Finance, if favorable, Rules, Calendar, and Operations of the House
- Mar 26, 2025HousePassed 1st Reading
Show 1 earlier action
- Mar 25, 2025HouseIntroducedFiled
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Reduction in Credit Card Interest Cap
North Carolina lowers its statutory monthly interest ceiling on revolving credit from 1.5% to 1.17%.
Connected Entities
Sources
www.ncleg.gov
Analysis Score
0–100- Significance75How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz30Current news / social attention level
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