tl;dr? ECB President Christine Lagarde has called for Europe to break its dependence on American payment infrastructure, warning that every card transaction sends European consumer data to the United States.
A coalition of 16 European banks thinks it has the answer...
The Tangerine Tyrant, with one eye on the forthcoming mid-term elections, has issued a proclamation (its not an executive order, just a post on social media), that for a year credit card interest rates should be capped at 10%.
Its a clear play for MAGA supporters who remain confronted by the cost of living crisis (or 'affordability' as its often termed in the US), but like so much nowadays its actually just declaratory politics.... as a policy it would be interesting
part of the reason I've been #struggling financially is that I'm in $10k of consumer #debt, more than half of it at 30% interest. 2/4 of my accounts are over their limit.
my goal is to pay these cards off, bring my #credit score up, and finally start #saving. it's been scary having a #newborn + no safety net.
if you'd like to help me pay more than the minimums this month—it'll be an important first step!
no specific goal in mind but $1k would be phenomenal and give some real breathing room... the overlimits alone are $530, and fortunately don't have any penalties beyond the exorbitant interest rates. but they do affect my credit, which made it harder for us to get an apartment.