CFA thanks Rep. Cartwright for introducing the “Protecting Consumers from Unreasonable Credit Rates Act of 2014,” which would establish a federal 36 percent APR usury cap. A fair rate cap will protect consumers and curb abuses in the high-cost small dollar loan market. The 36 percent rate cap set by your legislation would allow responsible lenders to continue to serve consumers with less-than-perfect credit and encourage lenders to establish meaningful ability to repay standards.