Lawmakers take aim at credit card interest rates, fees as cardholder debt tops $1 trillion
Collection Industry News
OCTOBER 17, 2023
Some lawmakers and regulators are calling for interest rate caps and lower fees on credit cards as debt levels march higher. Total credit card debt topped $1 trillion in the second quarter of 2023 for the first time ever. Federally chartered credit unions have an 18% limit. For example, Sen.
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