ABA research: 159 million Americans could lose access to credit under 10% credit card rate cap
By ABA Banking Journal Staff
AI Summary
A proposed 10% federal credit card interest rate cap could affect 159 million Americans and reduce access to credit, impacting even those with good credit scores. The analysis was conducted by ABA based on credit card data.
Texas Relevance
The article does not explicitly mention Texas or any Texas-specific entities and the proposed rule applies nationwide.
Original Content
A proposed 10% federal credit card interest rate cap would significantly reduce access to credit for millions of consumers nationwide, and even those with good credit scores who pay their bills on time will be affected by the rate cap, according to a new analysis of credit card data by ABA. The post ABA research: 159 million Americans could lose access to credit under 10% credit card rate cap appeared first on ABA Banking Journal .