WHITEHOUSE, WARREN, MERKLEY, REED INTRODUCE BILL TO EMPOWER STATES TO PROTECT AMERICANS FROM HIGH CREDIT CARD INTEREST RATES

WASHINGTON, Jan. 30 -- Sen. Jeff Merkley issued the following press release:

U.S. Senators Sheldon Whitehouse (D-RI), Elizabeth Warren (D-MA), Jack Reed (D-RI), and Jeff Merkley (D-OR) introduced legislation to protect Americans from sky-high interest rates for credit cards and other consumer loans. The Empowering States' Rights to Protect Consumers Act would restore states' ability to limit consumer loan interest rates for their residents and help address the record $1.23 trillion Americans hold in credit card debt.

"Too many Rhode Islanders are stuck under a mountain of credit card debt that is driven ever-higher by compounding interest rates and fees dictated by corporations," said Senator Whitehouse. "Our bill will restore to states t...