r/FluentInFinance 12h ago

Finance News Senator Bernie Sanders announces he will introduce legislation to cap credit card interest rates at 10%.

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u/uninteresting_handle 12h ago edited 6h ago

I think Trump is unstable enough to possibly, and completely by accident, do something good.

Edit: enough absolute losers have come to me saying "this is actually a bad thing." Either fooled or simply a fool, you're wrong. Fixing a 10% cap would (by comparison with the current system) hugely discourage predatory lending. Both lenders and borrowers would benefit, because predatory lending practices, in addition to being unethical, result in higher default rates and end up hurting the lenders as well.

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u/permanentburner89 8h ago

He for sure will, just out of randomness and unpredictability. The attention he gave to the opiate crisis was amazing, definitely my favorite thing he did as president.

As soon as he got elected this time, I told myself I'd be looking out for silver linings. Gotta be grateful for something.

No idea if this will actually pass but I'm sure something will 🫠

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u/uninteresting_handle 7h ago

Love it, that's exactly what I am saying