Sanders and Ocasio-Cortez Propose Caps on Credit Credits, Consumer Loans

Bernie Sanders and Rep. Alexandria Ocasio-Cortez are planning to propose legislation to cap rates on credit cards and consumer loans at 15%; the two have attacked banks for charging high interest rates while on the flip side borrowing money at under 2.5%; a statement read, “Today’s loan sharks wear expensive suits and work on Wall Street, where they make hundreds of millions of dollars in total compensation by charging sky-high fees and usurious interest rates”. Source

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!