New legislation in Congress that was introduced by an unlikely duo of senators seeks to impose a credit card interest rate cap, with the potential for such a bill becoming law aided by President ...

anyone who would pick an interest rate cap as a random, hard number not tied to any financial standard (such as x basis points above the Secured Overnight Financing Rate (SOFR), for example ...

as the Fed has increased interest rates, borrowing has become more expensive," says Taylor Jessee, CFP, founder of Impact Financial. "For example, in 2020 you could lock in a mortgage rate between ...

and Josh Hawley, R-Mo., introduced a bill this week that would cap credit card interest rates at a 10% annual percentage rate (APR) for five years. It's an idea President Donald Trump floated at ...

That's because the interest rate cap wouldn't be applied retroactively, he said: "It's likely to only be on new purchases." ...

For example, the Veterans and Consumers Fair Credit Act, introduced in 2021, would have established a 36-percent interest rate cap on consumer loans. The proposed legislation didn’t gain any ...