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Reply #12: One of the amendments sought to limit the rate that could be chargedto 30%
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moggie12
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Sun Mar-06-05 09:28 PM
Response to Reply #9 |
12. One of the amendments sought to limit the rate that could be chargedto 30% |
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AND IT WAS DEFEATED!!!!!!
The line was that it stepped on State's rights!! (Baloney!)
They refused to enact provisions preventing predatory lending procedures -- or to even require disclosure to consumers of the true cost of borrowing -- while simultaneously enacting laws that make it easier for credit card companies to put consumers in a vise and squeeze every last nickel out of them. Makes me wretch.....
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