A new bill in Congress would cap credit card interest rates at 10%. But the limits could harm consumers, experts warn
A new bill sponsored by Sens. Sanders and Hawley would cap credit card APRs, but that could reduce access to credit and credit card rewards programs.
Sanders and Hawley introduce bill to cap credit card interest rates at 10%
Sanders and Hawley’s bill comes after President Donald Trump vowed in the 2024 race to temporarily cap credit card interest rates at 10%.
Would a 10% Credit Card Interest Rate Cap Be a Totally Good Thing for Consumers?
Factors like your debt-to-income ratio, your income and existing debt all influence the interest rate on your credit card. And consumers who are considered high-risk are approved with a higher interest rate as a way for banks and issuers to compensate for the possibility of default.
Bipartisan bill would cap credit card interest at 10%
A new bipartisan bill introduced in Congress on Tuesday would cap the interest rate that credit card companies can charge at 10%. The bill has bipartisan support from unusual bedfellows: U.S. Sens. Josh Hawley,
Bernie Sanders, Josh Hawley introduce bill to cap credit card interest rates. What to know
Sen. Bernie Sanders of Vermont and Sen. Josh Hawley, a Republican from Missouri, introduced legislation to cap credit card interest rates at 10%.
Senators move to cap interest rates on credit cards at 10%
A pair of senators are pushing a bill that would cap interest rates on credit cards in a move that would deliver on a campaign promise from President Trump.
New bill could cap credit card interest rates at 10%
An unlikely pairing of Senators have come together to go after something nobody likes, credit card interest rates, as they’ve ballooned to almost 30%.
Two polar opposite senators back bill to cap credit card interest rates
Sen. Bernie Sanders (I-Vt.) and Sen. Josh Hawley (R-Kan.) agree on very little politically. But the very liberal and very conservative lawmakers are co-spo
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