Which States usury laws apply to credit card accounts?
Federal banking laws and regulations do not determine the rate of interest national banks may charge on credit cards and other types of loan accounts. The maximum interest rate that may be charged is controlled by State law in the State where the banks’ headquarters are located. Moreover, national banks can export the interest rates of the respective State to any other State where the consumer resides. For credit card accounts, the applicable State is named in your Account Agreement.
