Sanders And Ocasio-Cortez Pitch Credit Debt Relief
On Thursday both Bernie Sanders and Rep.
Alexandria Ocasio-Cortez revelead ambitious new legislatio that would impose a federal cap of 15% on credit card interest rates.
Business Insider reports the bill would also allow states to impose interest rates lower than 15%.
It's a bold plan at a time of record-high levels of credit card debt and interest rates.
During an interview with the Washington Post Sanders shares, "I am sure it will be criticized.
I have a radical idea, maybe Congress should stand up for ordinary people." According to the Federal Reserve, Americans are collectively over $1 trillion in credit card debt.