18 is Enough sign now

Just recently President Obama proposed a bill which would put new restrictions on credit card issuers, for example require a 45 day notice when raising interest rates. But the bill doesn't go far enough, as I believe it is time to impose an 18 percent interest cap, which was pretty much the standard when I obtained my first credit card back in 1975. That is a large enough profit for them to make, and is still high enough to be considered usurious by many.

What this ceiling would do would no doubt compel card issuers to be a bit more selective in who they lend credit to and how much. It would, if not end, at least slow some of the practices that card issuers have resorted to in the past few years, and also slow down much of the junk mail and pre-approved offers, which could put one in a hole real fast if the recipient signs on to enough of them. This could also begin the process of weaning the society away from its excessive dependence on credit cards.

Isn't it high time we say "18 is enough"?

Sign The Petition

Sign with Facebook
OR

If you already have an account please sign in, otherwise register an account for free then sign the petition filling the fields below.
Email and the password will be your account data, you will be able to sign other petitions after logging in.

Privacy in the search engines? You can use a nickname:

Attention, the email address you supply must be valid in order to validate the signature, otherwise it will be deleted.

I confirm registration and I agree to Usage and Limitations of Services

I confirm that I have read the Privacy Policy

I agree to the Personal Data Processing

Shoutbox

Who signed this petition saw these petitions too:

Sign The Petition

Sign with Facebook
OR

If you already have an account please sign in

Comment

I confirm registration and I agree to Usage and Limitations of Services

I confirm that I have read the Privacy Policy

I agree to the Personal Data Processing

Goal
0 / 50

Latest Signatures

No one has signed this petition yet

Information

Luisa GallagherBy:
LGTBIn:
Petition target:
U S Congress

Tags

No tags

Share

Invite friends from your address book

Embed Codes

direct link

link for html

link for forum without title

link for forum with title

Widgets