It'll be just like minimum wage laws: a small group on the margin will actually get lower rates, a larger marginal group will lose what they have now and businesses will get hit with the deadweight loss.

Undisciplined

>  Many of the worst policies have bipartisan support.

Its almost always a bad policy if both teams like it. 

Beyond that, any form of price control is anti-free market. Socialism basically. If auntie Maxine is for it you are headed in the wrong direction. 

This is one of that signs Mr Trump is not what many claim he is. He's not ideological at all.

kepford

https://twiiit.com/RpsAgainstTrump/status/2010726476535173596

nitter

APR caps may sound consumer-friendly, but price caps just serve to cut off vulnerable households from legitimate lenders.

Many of the worst policies have bipartisan support.

On January 9, President Trump announced on Truth Social that he was “calling for a one year cap on credit card interest rates of 10 percent” starting January 20.

When asked what the consequences would be if credit card companies didn’t comply, the president replied: “Then they are in violation of the law. Very severe things.” There is, in fact, no such law, but there are moves to change that.

https://x.com/RpsAgainstTrump/status/2010726476535173596

A bill was introduced in the Senate last April by Sen. Bernie Sanders which “temporarily caps credit card interest rates at 10 percent.” On January 13, Rep. Maxine Waters threw her support behind President Trump’s proposal: “Let’s do it,” she said during a House Financial Services Committee hearing, “Let’s cap interest rates.”

Politics_And_Law

econ

> **APR caps may sound consumer-friendly, but price caps just serve to cut off vulnerable households from legitimate lenders.**
>
> Many of the worst policies have bipartisan support.  
>
> On January 9, President Trump announced on Truth Social that he was “calling for a one year cap on credit card interest rates of 10 percent” starting January 20. 
>
> When asked what the consequences would be if credit card companies didn’t comply, the president replied: “Then they are in violation of the law. Very severe things.” There is, in fact, no such law, but there are moves to change that.
>
> https://x.com/RpsAgainstTrump/status/2010726476535173596
>
> A bill was introduced in the Senate last April by Sen. Bernie Sanders which “temporarily caps credit card interest rates at 10 percent.” On January 13, Rep. Maxine Waters threw her support behind President Trump’s proposal: “Let’s do it,” she said during a House Financial Services Committee hearing, “Let’s cap interest rates.”  
>
> Let’s not.
>
> [**...read more at thedailyeconomy.org**](https://thedailyeconomy.org/article/capping-card-interest-rates-wont-make-credit-cheaper/)