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The Capping Credit Card Interest Rates Act would have capped card interest rates at 18 percent, including all finance charges. That bill also didn’t go anywhere.
The proposed Credit Card Competition Act, a bipartisan bill introduced last year by Sens. Dick Durbin (D-IL) and Roger Marshall (R-KS), targets the dominance of payments processors Visa and ...
Sens. Bernie Sanders, I-Vt., and Josh Hawley, R-Mo., introduced a new bill on Tuesday to cap credit card interest rates at 10%, which Trump had proposed doing temporarily during his 2024 ...
Today, a 28% interest rate on a $5,000 credit card balance costs a consumer as much as $11,000 in interest and takes up to 24 years to pay off. Capping credit card interest rates at 10% would save ...
Goldman Sachs CEO David Solomon on Wednesday dismissed the notion that the bank's early exit from its credit card partnership with General Motors was messy, saying the firm had anticipated the ...
Under current federal law, nationwide limits on credit card interest rates are scarce, consumer advocates say. The 2006 Military Lending Act set a 36% rate cap on many lending products sold to ...
The jump in average credit card rates to 20.72% today from 16.16% two years ago is almost fully attributable to the Fed's rate hikes to tamp down on inflation, Rossman said. Keeping credit ...
Bankrate also found that several retailers were still charging rates in line with general credit cards: Costco Anywhere Visa by Citi (20.49%), Bass Pro Shops CLUB (21.12%), IKEA Projekt (21.99% ...