Sanders, Ocasio-Cortez interest rate plan has credit unions sweating
Credit unions are warning that a proposal from Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez would significantly reduce access to financial services. Sanders, I-Vt., and Ocasio-Cortez, D-N.Y., introduced their Stop Loan Sharks Act in mid-May, a policy proposal that would cap interest rates at 15% for consumer loans, including credit cards and payday loans. But some credit union executives are...