Congress should protect consumers from both high credit card interest rates and transaction fees – Karl Polzer

The nation’s biggest banks in effect have become today’s payday lenders.

 “The U.S. (quietly) lets banks extract high credit card transaction fees. This raises prices for everyone and shifts $billions from poorer to wealthier Americans”

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Which U.S. Households Have Credit Card Debt? – St. Louis Fed

46% of American households held credit card debt in 2022.

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