Bernie Sanders’s credit card cap: bad economics, worse results

Source: Washington Examiner · Bias: Center Right

Summary

Sen. Bernie Sanders (I-VT) calls credit card lending “extortion and loan sharking,” comparing lenders to the usurers Dante placed in Hell. His proposed solution, starting with a five-year 10% interest rate cap, might sound appealing. But it would devastate the very families he claims to protect. First, let’s address his claim that credit card lending […]

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Bernie Sanders’s credit card cap: bad economics, worse results
Washington Examiner

Bernie Sanders’s credit card cap: bad economics, worse results

Center Right

Sen. Bernie Sanders (I-VT) calls credit card lending “extortion and loan sharking,” comparing lenders to the usurers Dante placed in Hell. His proposed solution, starting with a five-year 10% interest rate cap, might sound appealing. But it would devastate the very families he claims to protect. First, let’s address his claim that credit card lending […]