1. United States
2. Calif.
3. Letter

Credit card interest rates have reached an all-time high, with the average being 28%. In 2022, credit card companies charged consumers $130 billion in interest and fees -- this is money that could be powering our economy instead of padding the bank accounts of big bank CEOs. On the campaign trail, Donald Trump promised to cap credit card interest rates at 10%. Now, Senators Bernie Sanders and Josh Hawley have introduced bipartisan legislation that would do just that. I urge you to support and pass the Sanders-Hawley bill and help build an economy that works for working people, not the big banks. As Senator Sanders said upon introduction of the bill: “We cannot continue to allow big banks to make huge profits ripping off the American people.”