1 / 2 -- Democratic presidential candidate Bernie Sanders and Representative Alexandria Ocasio-Cortez accused banks of acting as “modern-day loan sharks” and called on Congress to enact a federal limit of 15% on credit-card interest rates.
An outline of the plan released ahead of their formal announcement sharply criticized banks for charging an average 17.17% interest on credit-card balances while they are able to borrow money at less than 2.5%. With Republicans in control of the Senate, the proposal has little chance of becoming law any time soon.
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Bernie Sanders, Ocasio-Cortez aim to cap credit-card rates at 15% | McConnell campaign sells ‘Cocaine Mitch’ shirtsSen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez plan to introduce legislation on Thursday to cap credit card interest rates, while Mitch McConnell’s re-election campaign is celebrating its sales of its $35 “Cocaine Mitch” T-shirts. How about you pay off the credit card so it doesn't matter what the interest rate is? So fewer people will be able to get credit cards. Thanks SenSanders. By the way, if you can't give more than 3% of your income, how do you expect for me to believe that you have our best interest at heart, when you talk about raising taxes? Don’t cap & strap a business with more government regulations. Teach people about money and debt responsibly in the education system. Somebody run this socialist out of the US.
Source: MarketWatch - 🏆 3. / 97 Read more »
Bernie Sanders and Alexandria Ocasio-Cortez have a plan to cap credit card interest rates at 15%Bernie Sanders and Alexandria Ocasio-Cortez will unveil a plan Thursday to cap credit card interest rates at 15%. AOC is awesome!!! Top marginal rate at 15%? I’m in. I want Cortez to be a guest host on Squack on the Street
Source: CNBC - 🏆 12. / 72 Read more »
Bernie Sanders and Alexandria Ocasio-Cortez are introducing a radical plan to cap the credit card interest rate at 15%Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez just unveiled new legislation on Thursday intended to 'take on Wall Street greed' by capping credit card interest rates at 15%. So fucking stupid. Guess what, only going to hurt minorities. Capping card interest rates will only make it harder to obtain cards and their benefits. Lower income families will no long have opp. To have these credit cards now. Good job 🙌🏻🙌🏻I was hoping for around 12%. How about lowering the tax rate for regular folks, no matter how much u attack the rich, my tax rate stays the same. Get it?
Source: BusinessInsider - 🏆 729. / 51 Read more »