The main purpose of this legislation is to protect consumers by capping credit card interest rates at a maximum of 10 percent. This aims to make credit more affordable and reduce the financial burden on individuals who rely on credit cards for purchases and emergencies. Key provisions of the law include a clear limit on the annual percentage rate (APR) that can be charged on credit card debt. Specifically, it states that the total interest and finance charges on credit card balances cannot exceed 10 percent.