“The average interest rate on credit card debt is almost at 25%”
Taxpayers are paying hundreds of billions in welfare annually to people owing such debt.
The Congress has the power to make interest rates reasonable.
Remember back in the late 80s or early 90s when they made law that took away the C Card interest rate deduction?
Now, there is no leverage at all to prevent C Card companies to put high interest on what amounts to juice out on the streets.