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Recently, members of the United States Senate and United States House of Representatives have introduced the "Loan Shark Prevention Act," which imposes a nationwide 15% interest rate ceiling on all consumer credit products, from credit cards to payday loans. They also propose to empower the United States Post Office to engage in the practice of consumer retail banking. This Teleforum examines the economics of interest-rate ceilings on consumer credit and the historical experience with such proposals as well as discussing the proposal to create a Post Office bank.


  • Wayne Abernathy, Executive VP for Financial Institutions Policy and Regulatory Affairs, American Bankers Association
  • Todd Zywicki, George Mason University Foundation Professor of Law, Antonin Scalia Law School

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