Kristian Stout on Credit Card Rate Caps

Kristian Stout September 3, 2026

MinotDaily News quoted Kristian Stout, ICLE Director of Innovation Policy, in Star Parker’s column on proposed credit card interest-rate caps and late-fee restrictions. The piece discusses how limits on risk-based pricing can reduce credit access, shift costs to other fees, and affect competition. Read the full piece here.

Rate caps assume lenders and borrowers will stand still after Washington changes the rules. But markets always adjust. Analysis from the International Center for Law & Economics makes the point clearly that when risk-based pricing is constrained, credit supply shrinks for borrowers, costs shift to other fees, and innovation and competition can suffer.