Sen. Josh Hawley, R-Mo., accused credit card companies of "monopoly behavior" during a Nov. 21 Senate Judiciary hearing that featured him again calling for caps on interest rates.
Hawley was discussing record-level credit card debt following a report issued earlier this month by the Federal Reserve Bank of New York that revealed Americans have amassed $1.17 trillion in debt. The report said in the third quarter of 2024, that debt grew by $24 billion, an 8.1% increase from a year ago.
Join As Newsmax Platinum Member for Unlimited Access!
Get exclusive Newsmax Platinum content that includes:
- Special investigative reports
- Go inside the Trump administration to find out what’s really happening
- Breaking political insider news from Washington
- In-depth interviews with A-list celebs and insiders driving the day's headlines
- Thousands of articles you won't find anywhere else!
All just by becoming a Newsmax Platinum Member today!
Sign Up for Platinum AccessLogin