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Sen. Bernie Sanders (I-VT) and Rep. Alexandria Ocasio-Cortez (D-NY) are teaming up on a bill to cap credit card and payday loan interest rates at 15% Bernie, AOC Will Introduce Bill To Cap Credit.
Bernie and AOC introduce plan to cap credit card interest rates. Bernie and AOC introduce plan to cap credit card interest rates (Read 952 times). remember the 70s when inflation caused all sorts of problems for a banking industry with hard coded interest rate caps set by law. Logged:
Alexandria Ocasio-Cortez & Bernie Sanders Take Aim at Credit Card Interest Rates The bill would cap all credit card interest rates at 15 percent. Right now, the average banking institution is charging an interest rate of roughly 17 percent on the cards it issues, though interest rates, according to AOC, allegedly balloon high as "30 or 40 percent" in some cases.
Bernie and AOC Just Teamed Up to Take On Credit Card Companies.. Credit cards now represent more than 40% of Macy’s profits.. states could set interest rates even lower. The bill would. Truly, we quite seriously now have our sights set on a space force. by anyone with a simple tool and access to a memory card.
Self-proclaimed Democratic Socialists Alexandria Ocasio-Cortez and 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.
The new plan to cap credit-card interest rates would lead banks to deny credit to more people and raise other fees.. Why AOC, Bernie Sanders are missing the mark on credit-card rates. Rick Newman.. The stage is set for a big stock market rally: strategist.
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Bernie Sanders and Alexandria Ocasio-Cortez’s bill capping credit card interest rates at 15 percent won’t pass anytime soon, but it may expose big differences among Democrats on predatory.
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Democrats Bernie Sanders and Alexandria Ocasio-Cortez introduced on Thursday a plan to rein in the profit banks can collect from consumers, proposing to cap credit card interest rates at 15%.
Meanwhile, the average credit-card interest for consumers is at about 17.7%. Americans are expected to pay $122 billion in credit-card interest in 2019 alone.