The Mornings with Maria panel provides a reaction to the December employment report and specifies the impact on the US economy.
The new bipartisan bill introduced by the Senator will help consumers and reduce the interest rate of credit cards to fulfill the promise of President Donald Trump’s campaign.
R-MO. Josh Hawley Senator and I-VT. Bernie Sanders has introduced a law to keep credit interest rates up to 10 % as soon as the bill is enacted. After that, the cap will be valid for 5 years.
“During the campaign, President Trump has promised the credit card interest rate to 10 %,” said Sanders. “Today, I am proud to introduce a bipartisan law with Senator Holy and do it.”
“If a large financial institution claims more than 25 % to a credit card, they are not engaged in business to enable credit. They are engaged in fear Tor and loan shares.” And Sanders added. “We cannot continue to allow major banks to make great profits to tear American people.”
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Credit card interest rates are 10 % under the Sanders Holy bill for 10 % for five years. (ISTOCK / ISTOCK)
Holy stated in a statement that the end of a 10 % credit card interest rate like Trump is an easy way to provide meaningful relief to workers.
“Working Americans are OWN for recorded credit card debt, but the biggest credit card issuer will be rich and rich by hiking interest rates on a month,” said Holy. “It’s not just wrong, it’s exploit, and I need to end it.”
R-MO. Senator Josh Hawley said that credit card issuers were “exploit” at interest rates. (Tom Williams Pool /Getty Image /Getty Image)
In the last parliament, Holy died in the committee without giving a vote, but introduced a bill at 18 % to keep credit card interest rates up to a limit.
The Sanders and Holy press release said in September the Trump Campaign said. In addition to mortgages, rent, food and gas, the cost of rising rapidly. “
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I-VT. Senator Burnie Sanders accused him of financial institutions that he had a high credit card interest rate with “loan shares”. (Kevin Dietsch / Getty Images / Getty Images)
Critics who have restricted credit card interest rates include financial institutions to expand their credit, provide credit cards to borrowers with relatively low credit score scores, and reduce their credit card rewards. Note that there is a high possibility that providing credit cards will be more likely.
“There is no doubt that the limit of credit card rates not only has a significant impact on credit card owners, not just reducing interest payments,” said Matt Schulz. “Banks will lead to a dramatic reduction of credit card rewards, even a much smaller rate cap that President Trump supports, and reduces access to creditors with incomplete credit. I will do it.
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“However, it is clear that most Americans want to be capable of capping, most Americans will want to accept both of these results,” said Schultz and lent in December. A tree survey stated that two -thirds of the card owner found that it supported the rate limit. As a result, the remuneration decreases, but six out of 10 people also support many credits.
