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Contributed commentary by Tommy Vallejos, Latinos for Tennessee and former Montgomery County commissioner, on the proposed credit card interest rate cap.
For decades, the story of the American economy has been one of expanding opportunity. In Tennessee, we’ve seen firsthand how access to credit has evolved from a luxury for the few into a vital tool for the many. Gone are the days where a small farmer or a shopkeeper had to rely on a single local lender or, worse, a predatory “handshake” deal. Today, whether it’s a shop owner in Clarksville bridging a cash-flow gap, or a Cedar Hill family farm with a vital piece of equipment in need of repair, credit cards provide an important lifeline of liquidity…