Subject: Re: 10% credit card rates
lbaby1: If you limit credit card interest to 10%, a lot of people won't be able to get credit cards. Especially poor people.

An analyst from JPM addressed this today. With a 10% cap, “there would likely be a significant reduction in credit offered... so this would be a de facto monetary tightening. What would be the analogous number of rate hikes? ... I am not sure, but feels like it would be similar to multiple rate hikes.”