Both ends of the ideological spectrum get it wrong with credit card interest rate caps - R Street Institute

Both ends of the ideological spectrum get it wrong with credit card interest rate caps - R Street Institute

Reps. Anna Paulina Luna (R-Fla.) and Alexandria Ocasio-Cortez (D-N.Y.) have teamed up as cosponsors on legislation that would “amend the Truth in Lending Act to cap credit card interest rates at 10 percent.” Sens. Josh Hawley (R-Mo.) and Bernie Sanders (I-Vt.) sponsored its companion legislation. Ocasio-Cortez and Sanders are two of the most outspoken, best-known, self-described democratic socialists... The post Both ends of the ideological spec…

Capping Credit Card Interest Rates - Clark Center Forum

This Finance survey examines: A bipartisan bill to cap credit card interest rates at 10% has been introduced recently in the House and the Senate: https://ocasio-cortez.house.gov/media/press-releases/ocasio-cortez-luna-introduce-bill-cap-credit-card-interest-rates-10; (a) Capping credit card interest rates at 10% would make most users measurably better off; (b) Capping credit card interest rates at 10% would lead to a substantial reduction in ac…