Part 6/8:

Challenges Ahead

Yet, there’s a noticeable paradox in the actions of these corporations. In anticipation of proposed regulatory changes—such as a proposed cap on late fees—many credit card companies preemptively raised interest rates, further exacerbating the burdens on consumers. Reports indicate that companies like Synchrony and Bread Financial have increased their interest rates across various portfolios even before legislation took effect, leaving consumers in an increasingly precarious financial position.