Senators Propose 10% Cap On Interest Rates

A new bill would cap credit card interest rates at 10%. Here's what that could mean for your money
A bill to limit the interest rate on credit cards has been introduced in Congress. The banking industry says capping rates would have unintended consequences.
This Week In Credit Card News: Senators Propose 10% Cap On Interest Rates
Josh Hawley, Bernie Sanders Propose Capping Credit Card Interest Rates At 10%
Bernie Sanders, Josh Hawley introduce bill to cap credit card interest rates. What to know
Sen. Bernie Sanders of Vermont and Sen. Josh Hawley, a Republican from Missouri, introduced legislation to cap credit card interest rates at 10%.
Would a 10% Credit Card Interest Rate Cap Be a Totally Good Thing for Consumers?
Factors like your debt-to-income ratio, your income and existing debt all influence the interest rate on your credit card. And consumers who are considered high-risk are approved with a higher interest rate as a way for banks and issuers to compensate for the possibility of default.
Credit card rewards at risk with new interest rate limit legislation
A new bill to cap credit card interest rates at 10% could erase card rewards for consumers, financial experts told the Washington Examiner.
Kansas Citians support relief as bipartisan bill would cap credit card interest rates
In a bipartisan effort, Sen. Josh Hawley (R-Missouri) is teaming up with Sen. Bernie Sanders (I-Vermont), introducing a bill on Tuesday that would cap credit card interest rates at 10%.
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