Sanders Tentatively Backs Trump’s Credit Card Interest Cap: A Good Idea or Political Gambit?
Senator Bernie Sanders expressed support for President-elect Trump’s campaign proposal to cap credit card interest rates at 10%, a measure Sanders views as crucial to protecting working-class Americans from exorbitant fees currently averaging 21.5%. This contrasts with the Biden administration’s unsuccessful attempt to lower late fees. Sanders sees this as an opportunity for bipartisan cooperation, advocating for an end to what he terms “usury” by major banks.
John Q. Hosedrinker