{"id":47137,"date":"2024-03-05T11:23:37","date_gmt":"2024-03-05T18:23:37","guid":{"rendered":"https:\/\/nevadanewsandviews.com\/?p=47137"},"modified":"2024-03-05T11:24:06","modified_gmt":"2024-03-05T18:24:06","slug":"citizen-outreach-criticizes-bidens-new-credit-card-price-controls","status":"publish","type":"post","link":"http:\/\/nevadanewsandviews.com\/citizen-outreach-criticizes-bidens-new-credit-card-price-controls\/","title":{"rendered":"Citizen Outreach Criticizes Biden\u2019s New Credit Card Price Controls"},"content":{"rendered":"<p>LAS VEGAS \u2014 In response to today\u2019s White House <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/03\/05\/fact-sheet-president-biden-announces-new-actions-to-lower-costs-for-americans-by-fighting-corporate-rip-offs\/\">announcement<\/a> of new price controls on credit card late fees, Citizen Outreach President Chuck Muth said the following:<\/p>\n<p style=\"padding-left: 40px;\"><em>&#8220;The road to hell is paved with good intentions, and the Biden administration adjusting the price cap on credit card late fees down from $32 to $8 is no exception.<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>&#8220;The White House has identified a real problem: More Americans are unable to make their credit card payments on time than almost ever before. But forcing banks (especially small financial institutions that offer credit cards) to charge a significantly smaller penalty for late payments won\u2019t solve anything. It will just force these financial institutions to reduce credit lines and APRs for the most vulnerable Americans among us. In other words, the rule will hurt the very people it\u2019s intended to help.<\/em><\/p>\n<p style=\"padding-left: 40px;\"><em>&#8220;Rather than try to &#8216;solve&#8217; a true Main Street economic problem with voodoo, big government math, the Biden administration should begin addressing the runaway spending that has created the inflationary problems at issue. That\u2019s the only true path forward, and it will pay dividends for every segment of the population in short order.&#8221;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LAS VEGAS \u2014 In response to today\u2019s White House announcement of new price controls on credit card late fees, Citizen Outreach President Chuck Muth said the following: &#8220;The road to hell is paved with good intentions, and the Biden administration adjusting the price cap on credit card late fees down from $32 to $8 is [&hellip;]<\/p>\n","protected":false},"author":88897,"featured_media":13930,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[748],"tags":[],"_links":{"self":[{"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/posts\/47137"}],"collection":[{"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/users\/88897"}],"replies":[{"embeddable":true,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/comments?post=47137"}],"version-history":[{"count":2,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/posts\/47137\/revisions"}],"predecessor-version":[{"id":47140,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/posts\/47137\/revisions\/47140"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/media\/13930"}],"wp:attachment":[{"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/media?parent=47137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/categories?post=47137"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/nevadanewsandviews.com\/wp-json\/wp\/v2\/tags?post=47137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}