To: The United States House of Representatives
End Credit Card Usury Rates
We Need You to Support for H.R. 4084: Restoring America’s Commitment to Consumers Act of 2012
112th Congress, 2011–2012 will amend the Truth in Lending Act to establish a national usury rate for consumer credit card accounts under open end consumer credit plans, and for other purposes.
For more information about this bill please see http://www.govtrack.us/congress/bills/112/hr4084
112th Congress, 2011–2012 will amend the Truth in Lending Act to establish a national usury rate for consumer credit card accounts under open end consumer credit plans, and for other purposes.
For more information about this bill please see http://www.govtrack.us/congress/bills/112/hr4084
Why is this important?
Financial Institutions recently bailed out with billions of taxpayer dollars are hurting the nation's economy and ruining the lives of millions of hard-working ethical people who are trying to do what's right. Even if you've paid on time for 15 years without missing a single payment they will still charge you between 20 and 30% interest if they feel they can get away with it (i.e., if they feel you are "trapped" into paying them. This is not only wrong, but they don't deserve such a luxury. They did not take the risks - they were bailed out with our money. There is no logical reason to allow them to hurt our fellow Americans and to slow down our economy with their usury rates. We must repair our economy and prevent more homelessness and poverty that these institutions are causing.