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The proposed legislation may reduce consumer credit costs, positively influencing TREE's market perception. Historical attempts to regulate credit rates suggest potential increases in customer loyalty, possibly benefiting TREE's revenue model.
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New bipartisan bill proposes capping credit-card interest rates at 10%. Americans hold over $1 trillion in credit-card debt, with high delinquency rates. LendingTree survey shows 77% support for credit card rate caps among Americans. Consumer Bankers Association warns rate cap could reduce credit access for consumers. Past proposals to cap rates failed despite public support for lowering interest costs.
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