Capped: From credit card interest rates to credit card late fees, does capping them help with affordability?

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Capped: From credit card interest rates to credit card late fees, does capping them help with affordability?

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In January, President Trump urged Congress to cap credit card interest rates at 10% and said Americans are being “ripped off” by credit card companies. Bankers quickly opposed the idea, with some calling it an economic disaster. There is also debate over capping credit card late fees. We look at the pros and cons of these proposals and whether any of them would lead to more affordability.

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