Recent legislative changes have introduced a cap on credit card interest rates at 10%. This move aims to address predatory practices by companies like Capital One, which have been criticized for offering low initial interest rates that can skyrocket to as high as 30% due to numerous exceptions. The legislation has sparked mixed reactions, with some expressing reservations about its effectiveness and others questioning the authority to implement such a cap. Additionally, the return of SALT deductions has been noted as another significant development in the past two days. Synchrony, a proxy for sub-consumer credit, reported an NCO of 6.5% in August and a CECL reserve of 10.5%.