US Representatives Alexandria Ocasio-Cortez, also known as AOC, and Anna Paulina Luna introduced a bill late last week to cap credit card interest rates at 10%. The H.R. 1944 bill aligns with US President Donald Trump's campaign pledge to cap credit card rates at 10%.
'We're making that pledge more than a talking point by introducing legislation to protect working people from remaining trapped under mountains of debt,' Ocasio-Cortez said in a press release. The New York Democrat added that high-interest credit cards 'regularly trap working people in endless cycles of debt. At a time when families are struggling to make ends meet, we cannot allow big banks to shake down our communities for profit.'
