“Postal Banking”: The Latest Terrible Idea from 2020 Democrats

Recently, Senator Bernie Sanders (I-Vt.) and Representative Alexandria Ocasio-Cortez (D-N.Y.) unveiled a proposal that would cap credit card interest rates at 15 percent. As you probably surmised, enacting a proposal like this into law would be the economic equivalent of bombing the U.S. credit market. Heck, I have a cash-back credit card in my wallet right now with an APR of 19 percent. It’s very possible you have a similar one too. If so, you may want to take note of which 2020 Democratic presidential candidates would quite literally ban it. In short, enacting price controls on credit card interest