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Jeffrey P. Naimon quoted in PaymentsJournal article, “Credit card interest rates: Mandated federal interest rates won’t work”

PaymentsJournal

Jeffrey P. Naimon was quoted on March 9, 2020 in a PaymentsJournal article, “Credit card interest rates: Mandated federal interest rates won’t work,” which discussed the controversy over a national interest rate cap. Naimon noted, “Although we can understand why some people think it’s inappropriate for there to be higher interest rates, we also know that there will be a lot of people who will lose access to credit when you put a cap like that on interest rates. We don’t have any other mechanism in our society for these borrowers to handle the financial circumstances that cause them to seek higher-priced credit.”

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