Sanders and Ocasio-Cortez Propose Caps on Credit Credits, Consumer Loans

Bernie Sanders and Rep. Alexandria Ocasio-Cortez are planning to propose legislation to cap rates on credit cards and consumer loans at 15%; the two have attacked banks for charging high interest rates while on the flip side borrowing money at under 2.5%; a statement read, “Today’s loan sharks wear expensive suits and work on Wall Street, where they make hundreds of millions of dollars in total compensation by charging sky-high fees and usurious interest rates”. Source

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