Sanders Supports Trump on Credit Card Rate Cap
Sanders Supports Trump on Credit Card Rate Cap
Sanders Supports Trump on Credit Card Rate Cap
News summary

Senator Bernie Sanders has expressed a rare willingness to collaborate with President-elect Donald Trump on capping credit card interest rates at 10%, a proposal Trump made during his campaign. Sanders emphasized that the current rates, which can reach 25-30%, amount to 'usury' and exploit working-class Americans. This bipartisan agreement reflects a shared concern over the financial practices of major banks, with both figures advocating for reform in the face of rising consumer debt. The financial industry is under scrutiny, as Sanders points out that these high rates are contributing to record profits for banks while hurting consumers. Critics from both progressive and conservative sides have emerged, with concerns about the feasibility and implications of government-imposed rate caps. Sanders, who has criticized the Democratic Party for neglecting working-class voters, hopes this collaboration can address economic inequalities effectively.

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Last Updated
37 min ago
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