Bernie, AOC Setting Stage for House of (Credit) Cards
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Bernie Sanders, AOC unveil legislation to cap credit card interest at 15%. usury by ruling that states could set their own interest rate laws.. to see movement on the issue if Democrats take the White House in 2020.. Ocasio-Cortez said that new proposed credit card interest rate cap is a step moving.
The new plan to cap credit-card interest rates would lead banks to deny credit to more people. Why AOC, Bernie Sanders are missing the mark on credit-card rates. rick newman. banks set rates according to the riskiness of the borrower – and if 15% were the most they could charge for what.
Bernie Sanders and Alexandria Ocasio-Cortez's bill capping credit card interest. Bernie and AOC Team Up Against Companies That Prey on the Poor. would have the ability to raise rates above 15 percent for a period of 18 months, MBNA Corp., a credit-card company based in Biden's home state of.
[Bernie, AOC Will Introduce Bill To Cap credit card interest rates At 15%] Bernie, AOC Will Introduce Bill To Cap Credit Card Interest Rates At 15% Back to article Bernie, AOC Will Introduce Bill To Cap Credit Card Interest Rates At 15% Back to article
Bernie Sanders and AOC Want to End Predatory Interest Rates with a 15% Cap. Their new bill targets the “debt trap” laid by credit cards and payday loans.. Their initiative sets up what could be a bitter fight with the banking and. soon, especially given Republican control of the Senate and White House.
Current credit card interest rates range between 15 and 23 percent, and are higher for branded department store cards. Banks currently borrow from the Federal Reserve at a skinny 2.5 percent .
Selfand 2020 president hopeful Bernie Sanders are calling out big banks as "modern-day loan sharks," while also calling on Congress to cap credit card interest rates at 15%. The pair is set to propose legislation in both chambers of.
Y., are proposing a crackdown on banks issuing credit cards, but in reality, their plan would. and then jack up rates at the end of that period, raking in tremendous profits.. The ability to set astronomical interest rates is one thing that makes it worthwhile for. House committee subpoenas 8chan owner.
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