"Please be informed that we will no longer let the American Public be 'ripped off' by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even more, which festered unimpeded during the Sleepy Joe Biden Administration,"
"told him that Congress can pass legislation to cap credit card rates if he will actually fight for it."
Americans are accumulating rising credit card debt and paying more to eliminate balances. The affordability of credit-card borrowing has drawn bipartisan attention. On January 9, President Donald Trump proposed a one-year, 10% cap on credit-card interest rates starting January 20 and accused issuers of charging 20–30% or more. The clearest route to implement a rate cap would be congressional legislation. Passage of such legislation remains uncertain because similar measures have not become law. Senator Elizabeth Warren indicated willingness to work with the president and said Congress can pass a cap if the president actively fights for it.
Read at Business Insider
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