Bipartisan candidates advocate capping credit card interest rates during the campaign

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Bipartisan candidates called for limits on credit card interest rates during the midterm election campaign, seeking to respond to voters’ dissatisfaction with high rates and rising delinquency rates. In a May poll, 72% of surveyed voters supported setting a 10% cap on credit card interest rates for one year; banks warned that a cap could reduce access to credit and affect consumer spending.