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The EU's EU261 regulation is the strongest passenger-rights law in the world — it guarantees fixed cash compensation (€250 to €600) for long delays, cancellations, and denied boarding on flights departing the EU or arriving on an EU carrier, unless the airline can prove "extraordinary circumstances."
US rules are much narrower — there's no mandated cash payment for ordinary delays or cancellations, only a guaranteed refund if you choose not to travel and (since 2024) stronger free rebooking/care commitments. The one place US law does require cash compensation is if you're involuntarily bumped from an oversold flight.