Report: 10% credit-card rate cap could cut off 64 million, risk recession
A study warns a federal 10% cap on credit-card interest rates would sharply limit consumer access to credit and could weaken the U.S. economy.
A Center Square report warns that a proposed federal cap of 10% on credit-card interest rates could cut off about 64 million Americans from access to credit. The report says such a cap would sharply reduce available consumer credit and could slow economic activity, increasing the risk of a recession.