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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 ...
The GM credit card program will remain exclusively under the Mastercard brand, offering additional cardmember benefits. Last week, GM Energy launched an energy storage product called the PowerBank ...
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 average APR margin — the share of interest rates card issuers charge beyond the “prime” rate, which generally covers their basic funding costs — has climbed to 14.3%, from 9.6% a ...
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 average credit card rate was 16.34% in March 2022. "So, if the Fed cuts the federal funds rate by a quarter-point," Rossman said, "your credit card rate should fall by a quarter-point within a ...
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 ...
Interest rates are falling for borrowers. Read on to find out where credit card rates could be by the time 2025 rolls around. ... News. Science & Tech.