Charles Schumer in 2018 DE Senate race

On Corporations: The Schumer box: full disclosure on credit card agreements

Liberal Democrats wanted more than just disclosure. One amendment would have limited the allowable interest rate on all U.S. credit cards to 15 percent. A 1978 Supreme Court ruling had rendered state-level interest rate caps useless, allowing lenders to charge 40% or more in some states.

With a healthy 257-177 advantage, House Democrats had the numbers to force the federal cap through. But Schumer and his colleagues on the House Banking Committee wanted no part of significantly depressing credit card profits, having struck down this amendment almost unanimously in committee.