No. of Recommendations: 1
Limiting credit card interest rates to 10%, assuming there's any legal way of doing that in the first place, will simply result in people with low credit scores being unable to obtain credit at all.
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Somewhat, yes.
But, banks and Liberals will devise other ways.
Certain constituencies ----are easy.
If you want to reach them, don't go to strip malls with math tutors and insurance agents - you'll find 740+ credit scores there.
Find payday loan places, $200 hair cut places, $1000 rims for car stores.....and the consumer groups there will fall all over themselves to pay higher rates. higher fees, or whatever Woke Banks repackage it as.
There's a reason why some groups in America go from zero to being envied for their wealth and educations.
And some.... have their total net worth invested in their haircut and handbag.
It won't change.
Ok, it's changing - - a bit. But nowhere near how it should be.
(Some dude on TMF with firsthand knowledge touted CACC way back in the day. He knew - culture will lead to financial rape of certain constituencies. Fella ended up ok......)
