It'll be just like minimum wage laws: a small group on the margin will actually get lower rates, a larger marginal group will lose what they have now and businesses will get hit with the deadweight loss.
I would love to hear a "conservative" explain why minimum wage should not be raised but credit rates should be capped. And then claim they aren't a central planning commie.
It'll be just like minimum wage laws: a small group on the margin will actually get lower rates, a larger marginal group will lose what they have now and businesses will get hit with the deadweight loss.