rate-cap

/ ˈreɪtˌkæp /

verb

1. (formerly in Britain) to impose on (a local authority) an upper limit on the level of the rate it may levy

Derived Forms

• ˈrate-ˌcapping, noun

Example Sentences

Rate-cap opponents say that when a state caps interest, lenders can no longer operate profitably, and consumers with already limited options lose their last resort.

From Seattle Times

After a few failed attempts to get the state Legislature to cap interest rates, consumer advocates say they want to go directly to the voters and will try to put a rate-cap measure on the general election ballot in 2020.

From Los Angeles Times

Though the Legislature has rejected rate-cap bills and other legislation that would have reined in high-cost lenders over the past few years, the executive said he doesn’t believe lawmakers could be talked into overriding the state Supreme Court decision.

From Los Angeles Times

What’s more, the Center for Responsible Lending estimates, based on state filings, that lenders and their trade groups spent $1.5 million on lobbying against rate-cap bills over the past two years.

From Los Angeles Times

A new rate-cap proposal, Assembly Bill 2500, was introduced in February.

From Los Angeles Times