Bernie Sanders and AOC introduce plan to cap credit card and pay day loan rates

Bernie Sanders and AOC introduce plan to cap credit card and pay day loan rates

Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez introduced on Thursday a plan to rein in the profit banks can collect from consumers, proposing to cap interest rates for credit cards and payday loan services at 15%, citing that banks can borrow money today at less than 2.5% from the Federal Reserve. The proposal would also bring back postal banking.

Jackie
Jackie
Jackie
Jackie 1 year

AOC and Bernie did a Facebook live video to explain the proposal https://m.facebook.com/story.php?story_fbid=363251157730281&id=9124187907

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