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Proposed Legislation by Bernie Sanders to Cap Interest Rates Would Hurt Borrowers

Summary by atr.org

On February 4th, 2025, Senator Bernie Sanders (I-Vt.), along with Senator Josh Hawley (R-Mo.), introduced legislation to cap credit card interest rates at 10%. Both Senators criticized card issuers, denouncing card companies as “exploitative” and “engaged in extortion and loan sharking” while Americans faced a cost-of-living crisis. Senator Sanders’ press release statement cited the profits of major card issuers and the compensation received b…

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Proposed Legislation by Bernie Sanders to Cap Interest Rates Would Hurt Borrowers

On February 4th, 2025, Senator Bernie Sanders (I-Vt.), along with Senator Josh Hawley (R-Mo.), introduced legislation to cap credit card interest rates at 10%. Both Senators criticized card issuers, denouncing card companies as “exploitative” and “engaged in extortion and loan sharking” while Americans faced a cost-of-living crisis. Senator Sanders’ press release statement cited the profits of major card issuers and the compensation received b…

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atr.org broke the news in 9 days ago on Friday, February 14, 2025.

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