Ocasio-Cortez teams up with Bernie Sanders to introduce bill capping ‘outrageously high’ credit card interest rates

But critics claimed capping the interest rate would shrink the market, hurting Americans who rely on small borrowers. “The people who need access and who depend on credit cards to cover large transactions between paychecks are usually those who cannot otherwise gain access to credit and loans from banking institutions,” said Yaël Ossowski, the deputy […]

Obama issues credit card industry bailout by executive order

By Yaël Ossowski | Watchdog.org The credit card industry got a huge boost from President Obama last month when he signed an executive order requiring a switch to chip-and-pin technology for government vendors and agencies. It dictates the Department of the Treasury “take necessary steps” to guarantee payment terminals authorized by the agency have “enhanced security features” […]

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