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The weird bipartisan alliance to cap credit card rates is onto something
Advocates target excessive credit-card fees controlled by a few large banks, citing near-unlimited pricing power affecting consumers and businesses nationwide.
- Advocacy groups including Demand Progress are pushing to cap credit‑card rates and fees, with Dougherty, senior fellow for anti‑monopoly and finance at Demand Progress, writing in The Los Angeles Times.
- Because a handful of large issuers dominate the market, a few gigantic financial institutions exert nearly unlimited power over credit‑card pricing, prompting reform calls.
- Anti‑monopoly experts and consumer advocates make up the coalition pressing reform, noting the public favors lower interest on credit cards.
- Capping rates would affect consumers and businesses who pay card fees and pose significant financial consequences for large card issuers and the payments market.
- The debate pits reform advocates against major issuers, with advocates pushing policy steps to limit credit‑card pricing power, potentially pressuring U.S. policymakers and regulators.
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23 Articles
23 Articles
Coverage Details
Total News Sources23
Leaning Left3Leaning Right1Center19Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
13%
C 83%
Factuality
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