John,
Americans are drowning in $1.17 trillion in credit card debt, while banks and credit card companies rake in record profits. The average credit card interest rate? 28% and rising.
This isn’t lending, it’s legalized loan sharking. And it’s a direct result of Congress refusing to rein in Wall Street’s greed. In 2022 alone, financial giants charged $130 billion in interest and fees, the most ever recorded.
But there’s a solution: A bipartisan bill, led by Senators Bernie Sanders (I-VT) and Josh Hawley (R-MO), would cap credit card interest rates at 10% for five years. Even Donald Trump promised to support this during his campaign.
Now we need to make sure Congress follows through before bank lobbyists kill this bill.
Tell your senators: Stop predatory credit card rates Pass the 10% cap now!
For decades, big banks have rigged the system to maximize their profits at the expense of working people.
They borrow from the Federal Reserve at less than 4.5% but turn around and charge Americans 28% or more. This is nothing short of corporate exploitation.
Big Banks argue that capping rates will limit access to credit, but let’s be clear, no one needs a credit card with 30% interest. What families need is protection from financial abuse and debt traps.
We know the bank lobbyists are lining up to block this bill. They’ll claim it’s bad for business. But whose business are they really protecting?
Congress must protect consumers, not Wall Street greed because working people deserve fair lending, not financial extortion!
Take action today and send a message to your senators to support the Sanders-Hawley bill to cap credit card interest rates at 10%.
Let’s make Donald Trump follow through on this campaign promise.
- DFA AF Team
