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US Senators Sanders, Hawley announce bill to cap credit card interest rates

( February 5, 2025, 21:57 GMT | Official Statement) -- MLex Summary: US Senators Bernie Sanders and Josh Hawley announced that they have introduced legislation that would cap credit card interest rates at 10 percent for five years. “When large financial institutions charge over 25 percent interest on credit cards, they are not engaged in the business of making credit available. They are engaged in extortion and loan sharking. We cannot continue to allow big banks to make huge profits ripping off the American people,” Sanders said.Statement follows in full. ...

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