Sanders, Ocasio-Cortez Propose Banking Bill Aimed At 'Loan Sharks'

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Americans have more than $1 trillion dollars in credit card debt, according to the Federal Reserve, and the interest rates on credit cards are at a record high.

That's the backdrop for a bill introduced earlier this month by Sen. Bernie Sanders and backed in the House by Rep. Alexandria Ocasio-Cortez that would cap all credit card interest rates at 15 percent. Here & Now's Peter O'Dowd speaks with reporter Renae Merle (@renaemerle), who covers Wall Street for The Washington Post.

This segment aired on May 27, 2019.


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