WHITEHOUSE, WARREN, REED, SANDERS & MERKLEY INTRODUCE BILL TO PROTECT CONSUMERS FROM ABUSIVE LENDING

Senators’ legislation would allow states to cap credit card interest rates for their residents Washington, DC – Today, Senators Sheldon Whitehouse (D-RI), Elizabeth Warren (D-MA), Jack Reed (D-RI), Bernie Sanders (I-VT), and Jeff Merkley (D-OR) introduced the Empowering States’ Rights to Protect Consumers Act (S. 3321), which would protect consumers by restoring the ability of states to limit credit card and other consumer loan interest rates for their residents. “When Wall Street banks and their credit card subsidiaries take advantage of consumers through astronomically high interest rates, states should be able to act,” said Whitehouse. “This bill will restore to…
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WHITEHOUSE, WARREN, REED, SANDERS & MERKLEY INTRODUCE BILL TO PROTECT CONSUMERS FROM ABUSIVE LENDING

Senators’ legislation would allow states to cap credit card interest rates for their residents Washington, DC – Today, Senators Sheldon Whitehouse (D-RI), Elizabeth Warren (D-MA), Jack Reed (D-RI), Bernie Sanders (I-VT), and Jeff Merkley (D-OR) introduced the Empowering States’ Rights to Protect Consumers Act (S. 3321), which would protect consumers by restoring the ability of states to limit credit card and other consumer loan interest rates for their residents. “When Wall Street banks and their credit card subsidiaries take advantage of consumers through astronomically high interest rates, states should be able to act,” said Whitehouse. “This bill will restore to…
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