economy
February 19, 2026
Bernie Sanders’s credit card cap: Bad economics, worse results
Sen. Bernie Sanders (I-VT) calls credit card lending “extortion and loan sharking,” comparing lenders to the usurers Dante placed in Hell. His proposed solution, starting with a five-year 10% interest rate cap, might sound appealing. But it would devastate the very families he claims to protect.
TL;DR
- Sen. Bernie Sanders calls credit card lending "extortion and loan sharking."
- He proposes a five-year cap of 10% on credit card interest rates.
- Critics argue this cap would devastate the families it aims to protect.
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