Credit cards are used for the American people.
Immediate criticism
Trump stressed the need to stop. Using credit card companies, Without a clear implementation plan, the Declaration faced immediate criticism.
The greatest criticism was from the democratic congressman. Elizabeth Warren.Which you described as a useless beg without congressional legislation.
Think. Identification of interest rates It has already been introduced, with Congress members from both parties presenting similar draft laws, but it has not yet been approved.
Reactions of American banking groups
I was warned. American banking groupsIncluding the American Federation of Bankers, the 10% limit of interest is reduced. Provides credit to consumers .
Experts explained that high interest rates reflected the risks of unsecured loans, and that their determination was mandatory might make banks reduce credit grants.
The billionaire supporting Trump, Bill Ackman, who opposed the new invitation and considered it a mistake.
Limitation of interest rates Hope for consumers.
When he comes back. Identification of interest rates While there is hope for heavily indebted consumers, the absence of an implementation mechanism and bank alerts raise doubts about its achievement.
The real battle will move into the corridors. American Congress.، Any permanent change needs legislative approval that may be intractable at present.
