Trump’s Populist Twister and the Credit Card Crusade

Trump’s populist twister and the credit card crusade

The White House has proposed a 10 percent cap on credit card interest rates, a move that has been met with resistance from the banking industry but has gained support from both parties in Congress, as the American public is tired of feeling like the house always wins.

Las Vegas Review-Journal: Interest rate cap a price control by another name

Wave the red flags when socialist Bernie Sanders and progressive Elizabeth Warren are on the same page as Republican Donald Trump. And so it is with the misguided push to micromanage the credit card industry.

Cap Credit Card Interest Rates at 10%, Trump Is Right

Senator Bernie Sanders calls Wall Street credit card practices

SEN BERNIE SANDERS: We need to cap credit card interest rates at 10%

Sanders argues banks are ripping off Americans with 24% average credit card rates, proposing permanent cap to save families $899 annually in interest.

Rate cap debate sidesteps big unknowns in credit card pricing

President Donald Trump's support of legislation that would cap credit card interest rates at 10% has flagged in recent weeks, but experts say that the debate has highlighted significant gaps in regulators' understanding of the credit card market and how its risks are priced.

SEN BERNIE SANDERS: We need to cap credit card interest rates at 10%, Trump is right

We live in a nation of unprecedented wealth and income inequality — where a handful of billionaires are getting much richer while the working class falls further and further behind.Just since Election Day, while millions of Americans are struggling to afford housing, food, electricity and healthcare, the three wealthiest people in America have become over $625 billion richer and are now collectively worth $1.3 trillion.  Meanwhile, as a result o…