#InterestRateCap

Citizen Portal News Oregon

@citizenptnewsor.bsky.social

2 weeks ago

Senate Labor and Business Committee advances HB 4,116 after debate over 36% cap and legal risk After a public hearing and work session Feb. 26, the Senate Committee on Labor and Business voted to advance House Bill 4,116 — which would opt Oregon out of federal interest‑rate preemption for certain state‑chartered lenders — to the Senate floor with a due‑pass recommendation following debate on enforcement, data gaps and litigation risk.

Oregon's Senate Committee just advanced a bold bill aiming to cap interest rates at 36% for state-chartered lenders, sparking intense debate over consumer protection and legal risks!

Click to read more!

#OR #ConsumerProtection #FinancialRegulation #InterestRateCap

SoloSojourner

@solosojourner.bsky.social

2 months ago

👉 Relief without safeguards risks becoming a mirage. If lawmakers want to truly protect consumers, they need companion measures: fee caps, credit reporting protections, and rules against punitive limit cuts.

4/4 #10%Cap #InterestRateCap

SoloSojourner

@solosojourner.bsky.social

2 months ago

❌ None of the current proposals, even those backed by long‑time advocates like Elizabeth Warren, include protections against these retaliatory actions. The cap tackles interest rates, but it doesn’t stop banks from shifting the pain elsewhere.

3/4 #10%Cap #InterestRateCap

SoloSojourner

@solosojourner.bsky.social

2 months ago

⚠️ But here’s the catch: lenders can still slash credit limits, freeze accounts, hike fees, or gut rewards programs to protect their profits. Those moves could leave borrowers over their new limits, damage credit scores, and restrict access to credit altogether.

2/4 #10%Cap #InterestRateCap

SoloSojourner

@solosojourner.bsky.social

2 months ago

Credit Card Interest Rate Cap:

📉 A 10% cap on credit card interest sounds like a win for borrowers, cutting rates from today’s 20–30% range down to something manageable. That means lower monthly payments and faster debt payoff.

1/4 #10%Cap #InterestRateCap

@gaspingenemyofgod.bsky.social

1 year ago

a cartoon of peter griffin playing an ukulele with the words credit card debt credit card debt written below him ALT: a cartoon of peter griffin playing an ukulele with the words credit card debt credit card debt written below him

🚨💸 #BERNIESANDERS TAKES ON PREDATORY LENDING 🚫 Proposed legislation to cap credit card interest rates at 10% will protect consumers from debt traps & exorbitant fees, promoting financial stability & equality for all! 🙌🤝 #CreditCardReform #InterestRateCap #FinancialJustice #ConsumerProtection