Lawmakers take aim at credit card interest rates, fees as cardholder debt tops $1 trillion
Collection Industry News
OCTOBER 17, 2023
The average interest rate for all cardholders jumped to more than 21% in August, the highest on record, according to Federal Reserve data. Some cards — retail store cards, in particular — charge more than 30%, said Ted Rossman, industry analyst for CreditCards.com. Josh Hawley, R-Mo.,
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