- 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
re: Trump announces a temporary 10% cap on credit card interest rates
Posted on 9/19/24 at 3:04 pm to BCreed1
Posted on 9/19/24 at 3:04 pm to BCreed1
Yes and ostensibly the FTC sort of governs it. Sure you could pass a law to arbitrarily cap the interest rate at 10%.......But the result will be a credit crunch because the issuing banks will tighten their risk profile to a point where bulletproof won't be enough
0
Posted on 9/19/24 at 3:09 pm to BCreed1
quote:
You made no attempt at making an argument of merit, only precedent.
quote:So you’re going with “congress created a law” is evidence of merit?
The hell you say. I gave you US Code that was created by the powers invested to congress by the US Constitution.
Posted on 9/19/24 at 3:12 pm to SlowFlowPro
quote:They’ll tell you there’s no difference between Ron Desantis and and Kamala Harris… but will seal clap when Trump trots out something Elizabeth Warren would be proud of.
The irony is that there are a lot of people in the MAGA/populist faction who call normal Republicans names, and then ask similar questions when their "capitalist" avatar has to face the reality of the Leftism required for populism/MAGA, when normal Republicans still, for the most part, honor those values.
It’s fascinating.
Posted on 9/19/24 at 3:31 pm to Big Scrub TX
quote:
He is almost certainly wealthier now than he was in 2016.
Are you sure? His Truth Social holdings are in the tank. His political opponents are trying to seperate him from his money.
The question is not is he worth more than he was in 2016. The question is whether he is worth more now than he would be worth if he had never been President?
Trump is a real eastate developer. Real estate has skyrocketed since 2016. The past 8 years should ha e been a gold mine for someone like Trump.
This post was edited on 9/19/24 at 3:39 pm
Posted on 9/19/24 at 3:40 pm to Gifman
quote:
quote:
Just curious what reasons would you have to not support it?
I think credit card companies should be able to charge whatever fees they want (as long as there are alternatives, they're not colluding, and they're not "hidden" fees). I just don't like government putting their fingers on the scale.
I don't think there is a chance in heck he could get it capped at 10%. But, I do think there needs to be a cap. If there is anyone gouging the American people, it's credit card companies...
I realize they have fees and regulations, I've worked for an Acquirer company that processed transactions for huge banks and credit card companies (kind of like the middle man behind the scene that does all of the accounting work on the transactions, puts them in a file and routes them to banks)...The acquirer company I worked for did all this work behind the scenes and only made meer pennies on each transaction while companies like Visa made fortunes for basically being loan sharks.
They are very predatory, look at how many 18 year olds freshly graduated from high school get tons of credit card applications in the mail and they have no credit record whatsoever. Then they go out irresponsibly and start buying stuff with credit cards and get in a lifetime of debt they can never possibly pay off because the interest rates and fees just keep climbing.
This post was edited on 9/19/24 at 3:46 pm
Posted on 9/19/24 at 4:01 pm to Major Dutch Schaefer
quote:
Trump announces a temporary 10% cap on credit card interest rates
Is this level of pandering to liberals really necessary to beat a braindead communist?
FFS Trump. You don't need this.
Posted on 9/19/24 at 4:30 pm to Major Dutch Schaefer
Damn - he is slipping into pandering mode as of late....
Focus on immigration and the economy.....
Focus on immigration and the economy.....
Posted on 9/19/24 at 4:32 pm to David_DJS
quote:
Is this level of pandering to liberals really necessary to beat a braindead communist?
Obviously. Do you conservatives ever want to win again?
Or just cry?
Posted on 9/19/24 at 4:33 pm to Azkiger
In a truly free market, I agree. But the credit card companies get preferential , low cost funding from the FED at very low interest rates. Not really a free market.
Posted on 9/19/24 at 4:52 pm to Jax-Tiger
Ya, he has so much wealth the convicted felon could not even make bond on appeal. He had to shop around until he cut a deal with promises made for favors after election.
Posted on 9/19/24 at 6:13 pm to Major Dutch Schaefer
Nope.
Posted on 9/19/24 at 6:17 pm to Major Dutch Schaefer
quote:
Trump announces a temporary 10% cap on credit card interest rates
The frick?
Posted on 9/19/24 at 6:18 pm to Purple Spoon
quote:
The no income tax on overtime is a good idea.
Why?
I pay income tax on my income. Why should anyone not pay tax on their income?
I'm all for dispensing with the income tax. But if anyone pays it, everyone should.
Posted on 9/19/24 at 9:08 pm to Taxing Authority
quote:
So you’re going with “congress created a law” is evidence of merit?
I'm going with the Constitution and how the founding fathers separated powers
Posted on 9/19/24 at 9:23 pm to SDVTiger
quote:
Obviously. Do you conservatives ever want to win again?
Or just cry?
Oh yeah, the old "strength through weakness" strategy. Always a winner for losers.
Posted on 9/19/24 at 9:30 pm to Major Dutch Schaefer
Terrible.
Kiss those credit card points/rewards goodbye.
Kiss those credit card points/rewards goodbye.
Posted on 9/19/24 at 9:41 pm to Azkiger
quote:
High risk clients gonna get dropped.
I am pretty sure banks could find a fee to fee their way out. They could just charge a monthly maintenance fee equal to 1/12 of 25% of the balance or 10 dollars a month. Or they could levy a 300 dollar annual fee for a card with only a 300 dollar limit.
Posted on 9/19/24 at 11:25 pm to Major Dutch Schaefer
It will either kill banks/CC companies or cause us to drop all below average credit risk cunsumers. Doing that would cause a bloodbath in retail...
This is such a bad idea, I'm surprised democrats didnt come up with it first.
This is such a bad idea, I'm surprised democrats didnt come up with it first.
Posted on 9/19/24 at 11:28 pm to BCreed1
quote:Yeah, that's not proof of congressional infallibility.
I'm going with the Constitution and how the founding fathers separated powers
Posted on 9/19/24 at 11:51 pm to Major Dutch Schaefer
I wouldn’t normally support this, but considering our entire economy at this point is based on people’s ability to put their entire lives on credit and then the credit companies turn around and keep us in perpetual servitude while they make 5-10 times on what we originally put on credit, eff em. PedoJoe makes a fortune off of all the CC companies he’s got sheltered up in Delaware. F Em.
Page 12 of 13
Popular
Back to top
Follow TigerDroppings for LSU Football News