US Senate Defeats Interest Rate Cap on Credit Cards
As previously reported exclusively on Atlanta Progressive News, the US House failed to even consider a national credit card interest rate cap at 18% that had been proposed by US Rep. Maurice Hinchey (D-NY) and others, as the amendment was skirted by the Rules Cmte.
Well, at least the US Senate had the guts to consider a similar amendment, proposed by US Sen. Bernie Sanders (I-VT), to set a national cap at 15%. The amdmt failed 33-60. However, we get to see the true colors of several Senate Democrats and most Republicans who voted against this bill which had the potential to help so many US citizens. Full roll call, separating good Democrats from bad Democrats as follows:
Not Voting – 6