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As interest rates climb, here's why proposed caps on debt may not help reduce costs for consumers

Por: CNBC Business January 25, 2023

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Source: Getty ImagesRising credit interest rates have made it even more expensive to carry debts.But a proposal in Congress that would cap rates on consumer loans at 36% may not be an effective way of curbing those higher costs of borrowing, according to new research from the Urban Institute's Financial Well-Being Data Hub.The report examines the effects of a previous policy, the 2015 expansion of the Military Lending Act, which also... + full article



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