Since when did the president micro-manage corporate policy?
Any lender should be able to set their own price, covering taxes, overhead, and competitive margin. Lending is one of the most pure forms of market competition, if you offer crappy rates the 167 banks down the street will offer something better.
All this is going to do is cause credit cards companies to stop taking risk on sub-prime borrowers altogether. No more access to credit, at all.
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Since when did the president micro-manage corporate policy?
Any lender should be able to set their own price, covering taxes, overhead, and competitive margin. Lending is one of the most pure forms of market competition, if you offer crappy rates the 167 banks down the street will offer something better.
All this is going to do is cause credit cards companies to stop taking risk on sub-prime borrowers altogether. No more access to credit, at all.
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Well since January 2025 when the big orange wanna-be dictator took office, I suppose.
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