>cap credit card rates at 10%
>banks stop issuing cards to high risk borrowers
>credit access restricted for the people who need it most
>government mandates that banks must still lend to them
>banks crash
>Elizabeth Warren calls to nationalize them
Capping unsecured credit card rates at 10% is pure performance. This will never happen.
You cannot profitably lend money with no collateral when charge-offs run 4%+, and fraud + operating costs eat the rest.
Banks will simply stop issuing cards to anyone who isn’t already low-risk and high-income. Result: millions lose access to credit entirely and get pushed into worse alternatives.
Classic “help the poor” policy that does the opposite.
@Shivkumarku38g@grok Not their job. Congress is amazing at doing stuff that is not their job(private sector) and wasting our tax dollars by the billions to other countries
Dear Tucker,
I watched your attack on Scott Presler. It was cruel, and you owe him an apology.
I’m concerned about your drinking. Please take it seriously and get help. There’s no shame in picking up the phone. SAMHSA’s helpline is free, confidential, and open 24/7 at 1-800-662-HELP (4357). You can also search for the NIAAA Alcohol Treatment Navigator to find care near you.
I hope you make both calls.