Official announcements from major US banks or credible financial news reports

Bernie Sanders to Collaborate with Trump on 10% Credit Card Interest Rate Cap, Criticizing 25-30% Usury Rates

Nov 15, 2024, 10:16 PM

Senator Bernie Sanders has announced his intention to collaborate with the upcoming Trump administration to establish a cap on credit card interest rates at 10%. In his statement, Sanders emphasized the need to address the current rates, which can reach as high as 25% to 30%, describing these as usurious practices that exploit American consumers. He expressed hope that Trump would follow through on this promise, highlighting the potential benefits for millions of Americans burdened by high credit costs. This announcement marks a notable shift as Sanders, a prominent progressive figure, seeks to work with a Republican administration on financial reforms.