Innovators needed to cut credit card rates by using data

In 2019, sponsors Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Sen. Bernie Sanders (I-Vt.) would have limited credit-card annual interest rates including finance charges to 15 percent.  

In 2023, sponsor Sen. Josh Hawley (R-Mo.) sought to limit rates to 18 percent. In 2024, candidate Donald Trump said he would limit rates to 10 percent, which Ocasio-Cortez and Sanders support as well. 

If such a measure were to pass, many customers would be forced to retire their current credit cards...