Josh Holy (R-MO) and Bernie Sanders (I-VT) have introduced a bill on Tuesday to reduce credit card interest rates to a 10 % limit.
“Credit card interest rates are incapacitated. In recent years, the price has doubled. Even in 2022, credit cards have claimed $ 100 billion of Americans,” Holy wrote in the post. Social Media Platform X。
“Today,@berniesanders and I have a team to introduce a 10 % upper limit on interest rates, as proposed by@RealDonalDtrump,” he continued.
President Trump first said he supported a hat at a campaign rally in September.
Holy and Sanders stated that their credit card interest rates have become “exploit”. Recent Forb Sports Banks were less than 4.5 %, and although they could borrow money from the Federal Reserve, the average credit card interest rate was 28.6 %. Their proposal is valid for 5 years.
“If a large -scale financial institution claims more than 25 % of credit cards, we are not engaged in business that enables credit. They are engaged in fear Tor and loan shares,” said Sanders. Was shared statement。
“We cannot continue to allow major banks to make great profits of tearing Americans. This law is struggling to pay a bill that involves necessary financial rescue. It will be provided.
