Bipartisan effort to cap credit card interest rates

SOURCE www.foxnews.com
Conservative and progressive members of the House team up to propose a measure capping credit card interest rates at 10% to protect working Americans from high interest rates and debt traps.

Key Points

  • Measure proposes capping credit card interest rates at 10%
  • Support from members of both conservative and progressive caucuses
  • Focus on protecting working Americans from high debt

Pros

  • Protects working Americans from high credit card interest rates
  • Bipartisan effort to address a common issue

Cons

  • Potential impact on credit card companies' profits