Reply #3: Bernie Sanders will be offering his credit card interest rate cap as amendment to the Senate bill

[flpoljunkie]

Financial Reform As the Senate prepared to take up financial services regulation in the coming week, Sen. Bernie Sanders went to the floor Thursday to say he will offer amendments to cap interest rates on credit cards at 15 percent and require the Federal Reserve to name financial institutions that received emergency assistance. Sanders also said stronger measures are needed to protect taxpayers from having to bail out financial institutions considered too big to fail. He said large financial companies should be subject to break-up orders, not just to protect taxpayers, but also to address "a concentration of ownership" issue. To watch what the senator's floor speech on credit card charges, click here.

http://www.youtube.com/watch?v=xZEcvJ9MCq4&feature=player_embedded

http://www.sanders.senate.gov/newsroom/news/?id=85D2AF08-AB2C-4B64-A443-B4FE64819441