Sanders and AOC want to cap interest rates on consumer loans at 15% – here's why that's a bad idea
- Written by Anne Fleming, Associate Professor of Law, Georgetown University
Credit cards sometimes charge exceptionally high interest rates.Africa Studio/Shutterstock.com
Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez want to cap consumer interest rates in an effort to curb “sky high” credit card charges and other forms of predatory lending.
While that sounds nice in principle, in practice their plan...