December 13, 2013
WASHINGTON (AP) - The Senate has rejected a proposal aimed at lowering credit card rates by making banks and other card issuers abide by state interest rate caps.
The measure failed 60-35.
Democratic Sen. Sheldon Whitehouse of Rhode Island offered the amendment to a broad financial regulation bill that is making its way through the Senate.
The amendment would have barred financial institutions from charging interest rates based on what is allowed in the states where they are headquartered.
|Get the ingredients you need to cook with Rach all week long.|
|Full length exclusive concerts from hot artists.|
|Take a break!
Classic Pacman, Frogger, Asteroids and more.
Sell almost anything locally.