I look forward to working with the Trump Administration on fulfilling his promise to cap credit card interest rates at 10%.

We cannot continue to allow big banks to make record profits by ripping off Americans by charging them 25 to 30% interest rates.

That is usury.

https://x.com/SenSanders/status/1857527478715031865

Traditionally for Christians (although this is associated perhaps with Muslims more today) all interests on loans was considered to be usury, I think.

Catholicism attempted to clarify some “nuances” on the teachings in the 1500s, here’s the Catholic encyclopedia on the topic: https://www.newadvent.org/cathen/15235c.htm

Honestly I don’t get the “nuances” so I advocate ideally for no interests on loaning (which is morally allowed, but possibly at a loss). Jesus even advocates as an ideal (not required) to loan without even expecting the principal back:

“But love ye your enemies: do good, and lend, hoping for nothing thereby” Luke 6:35

Obvious problems exist like enslaving the poor with interest-debts (like compounding credit card debt), or nations like our national “debt” (it’s interest payments…)

  • FMT99@lemmy.world
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    3 days ago

    You can downvote this for having “Trump” in the title but we should take our victories where we can. If Bernie can get Trump to support this cap then that’s a win for all of us.