“Americans are being crushed under the weight of record credit card debt,” the Missouri Republican told the news site RealClearPolitics.
“The government was quick to bail out the banks just this spring, but has ignored working people struggling to get ahead,” Hawley told RealClearPolitics.
The Post has sought comment from the American Bankers Association, the lobby representing the nation’s lenders. In 2019, Ocasio-Cortez and Sanders introduced the Loan Shark Prevention Act which sought to cap credit card APR at 15%.National household credit card debt surpassed $1 trillion, according to the Federal Reserve Bank of New York.In comments to RealClearPolitics, Hawley pushed back on criticism that his proposal was to the left of those proposed by Democrats, including President Joe Biden.
The senator took aim at credit card issuers, telling RealClearPolitics: “We know what they’re doing.”
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