Consumer Bankers Association Says Banks Respond To Proposed Cap On Credit Card Interest Rates In The US

Jan 9 (Reuters) -

• CONSUMER BANKERS ASSOCIATION: BANKS RESPOND TO PROPOSED CAP ON CREDIT CARD INTEREST RATES IN THE US

• CONSUMER BANKERS ASSOCIATION: SHARE THE PRESIDENT’S GOAL OF HELPING AMERICANS ACCESS MORE AFFORDABLE CREDIT

• CONSUMER BANKERS ASSOCIATION: HOWEVER, EVIDENCE SHOWS THAT A 10% INTEREST RATE CAP WOULD REDUCE CREDIT AVAILABILITY

• CONSUMER BANKERS ASSOCIATION: IF ENACTED, THIS CAP WOULD ONLY DRIVE CONSUMERS TOWARD LESS REGULATED, MORE COSTLY ALTERNATIVES

• CONSUMER BANKERS ASSOCIATION: LOOK FORWARD TO WORKING WITH THE ADMINISTRATION TO ENSURE AMERICANS HAVE ACCESS TO THE CREDIT THEY NEED

Source text: [ID:]

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