Senator Elizabeth Warren’s own evidence explains the price she objects to and why blocking charters would shrink credit for the households most in need.
Topic: Depository Institutions Deregulation and Monetary Control Act of 1980
US financial statute passed in 1980
A new SPPI report supplies the evidentiary record: 68 million Americans live in counties with no community bank headquarters, and rate caps move credit up the income ladder rather than lowering its price.
68 million votes for more banks: how the campaign to politicize bank charters shrinks credit for households.
State-level DIDMCA opt-outs threaten to fragment the national credit market.
The difference from a 6 percent rate is tiny, but the appeal to customers is big.
Colorado’s HB23-1229 threatens consumer access to credit and economic growth.