Light Snow 32°
Tag:

CreditCards.com

Politics
Ocasio-Cortez Joins Bernie Sanders' Call For 15 Percent Cap On Credit Card Interest Ocasio-Cortez Joins Bernie Sanders' Call For 15 Percent Cap On Credit Card Interest
Ocasio-Cortez Joins Bernie Sanders' Call For 15 Percent Cap On Credit Card Interest Freshman Congresswoman Alexandria Ocasio-Cortez’s latest major bill since taking office has a powerful backer. The 2007 Yorktown High School graduate and presidential hopeful Bernie Sanders just introduced a proposal to cap credit card interest rates at 15 percent this week, which would rein in the profits major banks can capitalize on. The legislation has been dubbed the “Loan Shark Prevention Act.” Currently, the national average annual percentage rate his 17.73 percent, while the median was sitting at 21.36 percent, according to CreditCards.com. “Despite the fact that banks can borro…

SHARE

by Zak Failla