There are Americans who are not going to be able to have access if there is a government price control in place. We will see these folks run into the arms of payday lenders in far worse situations. We will see them go offshore to far less scrupulous individuals than our good lending institutions here in the United States. So like everything the president does, I believe he's putting banks and credit card companies specifically on notice. They've got to write in these, you know, 30% above interest rates. (09:02–09:10)
CLAIM
Asserts that price controls could lead people to seek financial services from less reputable offshore entities.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
