Thursday, May 14, 2009

Senate refuses to cap credit card interest rates at 15%

Never mind that credit union interest rates are capped at 15 percent already. The effort by Senator Bernie Sanders, the Vermont independent, drew only 33 votes and needed 60. One-third of all credit card holders are paying interest above 20 percent and as high as 41 percent, but the banks own the Senate.

read more | digg story

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