Credit Card

Equating today’s rising credit card rates to usury, several House Democrats today announced plans to introduce legislation capping credit card rates at 16 percent.
“Things were a lot better for the average person in this country when we had usury caps,” Rep. Louise Slaughter (D-N.Y.), head of the House Rules Committee, said in a statement announcing [...]

Mike Lillis at our sister site, The Washington Independent, continues to follow the Credit Cardholders’ Bill of Rights weaving its way through Congress — a story so maddeningly convoluted it can only be matched by the frustration of reading the small print on your credit card bill.