Source: Reason
by JD Tuccille
“It would be nice if one of our two major political parties was consistent in its advocacy for free markets — for all freedom, for that matter. Instead, we get two senators, a Republican and a socialist who sits with the Democrats, teaming up to condescendingly save Americans from their own desire to borrow money. Their proposal to cap credit card interest at 10 percent is supposed to shield people from ‘exploitative’ borrowing costs. Instead, it’s bound to cut off higher-risk borrowers from traditional credit and drive them into the arms of payday lenders and loan sharks.” (02/07/25)