here,to the topic at hand bernie sanders and alexandra reducecortez want to credit card rates to 15%. here's an article by senator sanders. banks have been ripping off americans for too long. this is from cnn.com. can you explain this plan? guest: basically, what they are trying to do is put a cap on the interest rates that credit cards can charge. right now, the only credit cards that have a rate cap in this country are credit union credit cards. by, right now, that cap, federal law, from the federal credit union act, that set the cap at 15%. but it also built in some exceptions to where the national credit union board can, under certain circumstances, raise if it feelsve 15% like it is necessary for the financial soundness of the credit unions. basically, that rate cap has been at 18% for about 30 years. basically, they are basing this on the original letter of the law and not necessarily where rates stand at the moment. because the current credit union rate cap is 18%. host: we want to get our viewers opinions. we will have two phone lines and split the lines regionally. if you liv

here,to the topic at hand bernie sanders and alexandra reducecortez want to credit card rates to 15%.icle by senator sanders. banks have been ripping off americans for too long. this is from cnn.com. can you explain this plan? guest: basically, what they are trying to do is put a cap on the interest rates that credit cards can charge. right now, the only credit cards that have a rate cap in this country are credit union credit cards. by, right now, that cap, federal law, from the federal credit union act, that set the cap at 15%. but it also built in some exceptions to where the national credit union board can, under certain circumstances, raise if it feelsve 15% like it is necessary for the financial soundness of the credit unions. basically, that rate cap has been at 18% for about 30 years. basically, they are basing this on the original letter of the law and not necessarily where rates stand at the moment. because the current credit union rate cap is 18%. host: we want to get our viewers opinions. we will have two phone lines and split the lines regionally. if you live in the easte