Senators Bernie Sanders and Josh Hawley proposed a bipartisan bill to cap credit card interest rates at 10%, fulfilling a campaign promise by President Trump.
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Sen. Josh Hawley said he has teamed up with the consummate supporter of every bad economic idea, Sen. Bernie Sanders, to introduce an arbitrary 10% cap on credit card interest rates.
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A new bill to cap credit card interest rates at 10% could erase card rewards for consumers, financial experts told the Washington Examiner.
A new bill sponsored by Sens. Bernie Sanders and Josh Hawley would cap credit card APRs at 10%--something that President Trump also wants--but that could reduce access to credit and credit card rewards programs.
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