Senator Bernie sandersBernie Sanders Republicans, COVID and the Rise of ‘Militant Ignorance’ The Biden 2021 Bulletin: The less good, the bad and the ugly At least 20 states to raise minimum wage starting Saturday MORE (I-Vt.) Thursday, blasted Amazon over reports that the retail giant will offer a credit card to “underbanked” customers with bad credit.
“This kind of greed makes the poor even poorer and @AOC and I intend to ban it,” Sanders tweeted Thursday, referring to the Progressive Representative. Alexandria Ocasio-CortezAlexandria Ocasio-CortezOcasio-Cortez Blames GOP For “Projecting Its Sexual Frustration” On Her The 9 Politicians Who Had The Most Impact in 2021 Energy and Environment – The Biggest Climate News of 2021 MORE (DN.Y.). “Businesses will have to survive with a 15% cap on interest rates.”
Can you believe it Amazon issues credit cards with 28% interest rates to “help” people with bad credit. This kind of greed makes the poor even poorer and @AOC and I intend to ban it. Companies will have to survive with a 15% cap on interest rates. https://t.co/O3v1XOoMk3
– Bernie Sanders (@SenSanders) June 12, 2019
The proposed card will be available to customers who might otherwise not have sufficient credit to obtain a credit card. It carries an interest rate of 28 percent.
In May, Sanders and Ocasio-Cortez introduced legislation that would cap interest rates on consumer loans at 15 percent.
Predatory loans and our credit scoring system target low-income Americans and people who live paycheck to paycheck with manipulative practices and hidden fees – trapping millions of people in a cycle of systemic poverty as their hard-earned money is funneled into exorbitant bounties for Wall Street executives, ”the Ocasio-Cortez team told supporters in a May email.
Sanders has also frequently criticized Amazon’s business practices, frequently pointing out that the company paid no federal income taxes in 2018.
Amazon also last year raised its minimum wage to $ 15 an hour after pressure from Sanders and other activists.