If Trump were to enact a 10% cap in credit card interest rate it seems very likely that many credit card companies would cease offering credit terms - when the adjusted net loss associated with credit card debt is taken into account it would almost certainly be a losing proposition for credit card providers to do otherwise
If Trump were to enact a 10% cap in credit card interest rate it seems very likely that many credit card companies would cease offering credit terms - when the adjusted net loss associated with credit card debt is taken into account it would almost certainly be a losing proposition for credit card providers to do otherwise
Absolutely. And as the banking industry has said, this will just mean fewer cards and more pay day lenders for unsecured loans.
That events surrounding the US Fed are #5 of today’s analyses shows just how fast this year is already moving.