Big Banks Charge Higher Credit Card Interest Rates Than Small Banks, Credit Unions: CFPB Report
By Naveen Athrappully Larger banks and financial companies charged higher interest rates last year for credit cards while also engaging in “anti-competitive behavior” detrimental to customers, according to a recent report from the Consumer Financial Protection Bureau (CFPB). “During the first half of 2023, small banks and credit unions tended to offer cheaper interest rates than the…
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