HOUSE SUBCOMMITTEE VOTES CREDIT CARD RATE CAP

  A House Banking subcommittee has
  approved legislation to limit the interest rates charged by
  banks and other credit card issuers.
      The Consumer Affairs and Coinage subcommittee bill would
  limit credit card interest rates at eight percentage points
  above the yield on one-year Treasury securities.
      If in effect now, the bill would limit credit card rates to
  13.8 pct compared to a nation-wide average of 18 pct, the
  subcommittee said.
      The bill now goes to the full House Banking committee for
  further action.
  

