Posts tagged Interest Rate
Sanders and Hawley’s Interest Rate Cap Would Ban Their Union Allies’ Credit Cards
February 10, 2025 // They should have checked with their union boss pals before taking such a position. Many major labor unions have deals with banks to offer branded credit cards as a member benefit. Some of them can charge interest rates in excess of the 25 percent rate Sanders finds extortionate, and nearly all of them charge higher than 10 percent. One of the most common credit card partnerships for unions is with Capital One, which offers a Union Plus Mastercard. It is marketed as “Built for Union Members. Backed by Union Members,” and accounts are limited to active or retired union members or their families.
House panel probes Labor Department’s leak of revised jobs data to Wall Street firms
September 26, 2024 // The House Committee on Education and Workforce, which is chaired by Rep. Virginia Foxx (R-NC), sent a letter early Wednesday morning to the acting secretary of the Labor Department, Julie Su, asking for more information on the botched release of the revised data. “At best, BLS’s botched release of the job numbers caused significant uncertainty and confusion and undermined confidence in the data,” the committee’s letter to Su read.