Sanders, Ocasio-Cortez join forces with Loan Shark Prevention Act aimed at consumer-credit abuses

Posted on AllSides May 9th, 2019
From The Left

Retail cards from major store chains like Macy’s and Kohl’s now account for more than a third of total company profits – a large enough chunk to paper over the sector’s struggle to maintain a sustainable trajectory on actual product sales volume. In an echo of the Wells Fargo account-opening fraud scheme that shattered the reputation of one of the country’s largest banks, retail firms have begun pressuring frontline workers to sell their high-cost credit cards to shoppers.

Outside the storerooms, in the traditional credit card spaces, the firms making...

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