The credit card companies spent a generation charging 20% to 30% interest while the middle class bled out.
Today, that trade just hit a brick wall.
President Trump has officially called for a 10% interest rate cap on all credit cards, effective January 20th.
The $100 billion in interest savings is a structural liquidation of the "hidden tax" that has propped up the banking sector for years.
The loan sharks just got evicted. The people win.
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The interest rate rug-pull. 🇺🇸
The credit card companies spent a generation charging 20% to 30% interest while the middle class bled out.
Today, that trade just hit a brick wall.
President Trump has officially called for a 10% interest rate cap on all credit cards, effective January 20th.
The $100 billion in interest savings is a structural liquidation of the "hidden tax" that has propped up the banking sector for years.
The loan sharks just got evicted. The people win.