The proposal implements this requirement and adds a requirement to disclose the penalty APR that could be triggered by a late payment. Creditors would be required to disclose the penalty fee and rate close to the due date. If the creditor uses an early cut-off time on the payment due date, the time would also have to be disclosed near the date. Minimum payments.
When the global supply of savings is high relative to the global demand for funding to invest in new capital, the price of savings – or the global interest rate – is going to be low. There are certainly other factors at play as well, but savings and investment decisions are at the heart of the issue.