Credit card interest rate cap could reduce access for over 100 million Americans, analysis finds

A new analysis finds that a 10% credit card interest rate cap would shrink access to credit, affecting well over 100 million American cardholders in the process.Some Republican and Democratic lawmakers have expressed support for capping credit card interest rates at 10%, a measure that also received support from the Trump administration. Other proposals have centered on a higher cap of 15% or 20%. An analysis by Unleash Prosperity warns that credit card interest rate caps would function as price controls on what is currently a highly competitive market, resulting in significant consequences fo...

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