Bernie Sanders, Alexandria Ocasio-Cortez propose 15% cap on credit-card interest

GettyImages-1136153554

GettyImages-1136153554

"This, to me, is not just an economic issue". Bernie Sanders Thursday to pitch a cap on credit card interest rates as part of new legislation.

Sanders and Ocasio-Cortez said that, even after Wall Street was bailed out during the financial crisis, they are back to taking advantage of "working people" and gambling off of the economy. He proceeded to describe the ugliness of a system in which "the poorer you are, the more desperate you are, the higher your interest rates are".

Another example is the "Save the Internet Act", also known as the "net neutrality" bill, which Ocasio-Cortez voted for on April 10.

Seawright, a Democratic strategist based in SC, made the comment on "Outnumbered Overtime", as reports surfaced that the freshman congresswoman said she is "entertaining" the idea of endorsing a candidate ifor president. "These predatory loans and high interest rates impact rural communities". We've had tweets with over 30,000 likes on them, so I think Twitter decided it was time for [the account] to go. "But what we actually see is that in poor and lower-income urban communities, there are way fewer banks per capita". "I have a radical idea, maybe Congress should stand up for ordinary people".

"An additional crisis, but part of this whole situation, is that many poor people don't have access to banking services because the big banks are not anxious about somebody who, you know, makes 10 bucks an hour", Sanders said during the video announcement.

Sanders has been rolling out a series of proposals in recent weeks, including a "Medicare for All" proposal whose co-sponsors include four of his presidential primary rivals: Warren, Kamala Harris, Cory Booker and Kirsten Gillibrand.

A spokesperson for Ocasio-Cortez's office also told The Intercept that the freshman representative plans to suggest postal banking as a public option for consumer lending-meaning the U.S. Postal Service could get into the business of operating checking and savings accounts. Senator Elizabeth Warren has done the same, and Senator Kirsten Gillibrand introduced a postal banking bill in 2018.