Or just common sense laws against predatory lending by capping interest rates.
Most people don’t have a safety net and live paycheck to paycheck.
A huge expense comes up, and rather than get a bank loan at even 8-10%, it goes on a credit card
Companies have a tiny “minimum payment” because they don’t want you to pay it off. They want that balance to grow while people ignore it. They don’t want it back now, they want thousands more later.