- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Bernie and AOC introduce bill capping credit card interest rates/ payday loans at 15%
Posted on 5/9/19 at 12:17 pm
Posted on 5/9/19 at 12:17 pm
quote:
Sen. Bernie Sanders (I-VT) and Rep. Alexandria Ocasio-Cortez (D-NY) are teaming up on a bill to cap credit card and payday loan interest rates at 15%, a significant reduction from current lending rates.
“The American people are sick and tired of being ripped off by the same financial institutions that they bailed out ten years ago,” the pair said in a joint statement. “If we are going to create a financial system that works for all Americans, we have got to stop financial institutions from charging outrageous interest rates and fees.”
Basically a price ceiling
This will end up hurting POC and poor people the most
Fark done by bigtime92
This post was edited on 5/9/19 at 1:15 pm
37
Posted on 5/9/19 at 12:18 pm to HailHailtoMichigan!
That’s a good way for those people to end up without credit cards or payday loans.
Posted on 5/9/19 at 12:18 pm to HailHailtoMichigan!
And those with poor credit now have NO ACCESS to credit...
Posted on 5/9/19 at 12:19 pm to HailHailtoMichigan!
quote:
The American people are sick and tired of being ripped off
Have better credit and stop running up debt you can't afford.
You know if you pay your credit card bill every month you don't pay interest?
Posted on 5/9/19 at 12:20 pm to HailHailtoMichigan!
How does it help the poor to stop 23% interest?
Are you suggesting 15% is not enough to cover gambling on poor cardholders. Lol.
Are you suggesting 15% is not enough to cover gambling on poor cardholders. Lol.
Posted on 5/9/19 at 12:20 pm to HailHailtoMichigan!
Reminder, She has a degree in economics from a reputable university.
Posted on 5/9/19 at 12:20 pm to HailHailtoMichigan!
quote:
“The American people are sick and tired of being ripped off by the same financial institutions that they bailed out ten years ago,”
Are they forgetting their hero Obama is the one who bailed them out?
Posted on 5/9/19 at 12:21 pm to HailHailtoMichigan!
quote:
Bernie and AOC introduce bill requiring credit card companies to provide a prescribed portion of interest-free credit to low income applicants
Wait for it.
This post was edited on 5/9/19 at 12:22 pm
Posted on 5/9/19 at 12:22 pm to HailHailtoMichigan!
Well, no more CC and payday loans for poor people
Posted on 5/9/19 at 12:23 pm to anc
S
I'm starting to think it was given to her, not earned. No way she has an econ degree.
quote:
he has a degree in economics from a reputable university.
I'm starting to think it was given to her, not earned. No way she has an econ degree.
Posted on 5/9/19 at 12:24 pm to HailHailtoMichigan!
The best part of your post is the shopped photo of Shrekbernie and DonkeyAOC.... 
Posted on 5/9/19 at 12:26 pm to HailHailtoMichigan!
quote:
This will end up hurting POC and poor people the most
In the short term.
Posted on 5/9/19 at 12:26 pm to HailHailtoMichigan!
the lower rates would make it so you need a much higher credit score to get said credit card, or will result in much lower credit limits.....
its all about risk/reward.
its all about risk/reward.
Posted on 5/9/19 at 12:26 pm to Nguyener
quote:
You know if you pay your credit card bill every month you don't pay interest?
The credit card companies will hate you for that...they make no money
Posted on 5/9/19 at 12:27 pm to CelticDog
quote:
How does it help the poor to stop 23% interest?
Are you suggesting 15% is not enough to cover gambling on poor cardholders. Lol.
CC and loan companies will be more restrictive in who they give out loans too. For once, i'm actually for this. The consequences will shake out how they may. Which means, the poor will be hurt by this. I don't think they've thought this through.
Posted on 5/9/19 at 12:27 pm to RogerTheShrubber
Her degree is in international relations, for the fricking thousandth time
Posted on 5/9/19 at 12:29 pm to KiwiHead
quote:
The credit card companies will hate you for that...they make no money
Either a real shiny hook or completely ignorant statement, so subtle I can’t tell.
Posted on 5/9/19 at 12:30 pm to HailHailtoMichigan!
But, when they stop issuing cards to scads of brown and black people, they will say that is racist, though.
And credit card companies only see 1 color - green.
And credit card companies only see 1 color - green.
Posted on 5/9/19 at 12:30 pm to HailHailtoMichigan!
Good luck buidling or rebuilding your credit.
Banks won't touch high risk people anymore.
If you borrow the money, you pay the interest.
Banks won't touch high risk people anymore.
If you borrow the money, you pay the interest.
This post was edited on 5/9/19 at 12:31 pm
Posted on 5/9/19 at 12:30 pm to Dawgfanman
Not really though. I’m not against this proposal.
Page 1 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News