Cap on credit card rates?

[Mik]

Interesting.

https://www.msn.com/en-us/news/politics/bernie-sanders-announces-legislation-to-codify-trump-s-great-campaign-proposal/ar-AA1wMiei

[Axtremus]

Hey @jon-nyc, what’s that quote by Adam Smith about keeping interest rates low and make credit available only to the most credit-worthy again?

[Jolly]

There's a difference between low and predatory.

[LuFins Dad]

10% feels too low, especially with mortgage rates at 6.5 - 7%.

Beyond that, you shouldn’t lock in rates to a specific number, more like a formula…

Beyond even that… Republicans partnering with Bernie fucking Sanders to have government impose harsh new regulations on an industry? Are we in the Panderverse?

[Jolly]

Arkansas had some of the lowest credit card rates in the country for many years. Credit was tighter, but the majors still did business in the state.

[Doctor Phibes]

If they cap the rates then presumably we'll just have to pay in some other way. They're not going to stop lending money to poor people.