Enforce State Usery Laws!
This Petition is to urge Congress to stop credit card companies from bypassing State usery laws by charging unconscionable credit card rates in spit of the usery laws inacted in the credit card holder's state of residence.
We want Congress to enforce the current usery laws or enact a Nation wide usery law to stop the wide-spread abuse of unconscionable credit card rates resulting in a form of indentured servitude (Slavery!).
We the undersigned request that you address the issue of credit card companies/banks charging unconscionable rates for credit card balances in spite of State usury laws in enacted in the state of the borrower.
Congress addressed the "Pay-Day" loans and their rates yet they continue to ignore the problem of Credit card rates. We ask that you require the Credit Card Companies/Banks be required to limit the credit card or any other interest rate to the limit each state has passed in its usury law.
Another option would be to pass a national usury law. The current rates being charged to people with all types of credit ratings amount to indentured servitude. We ask that you pass a law which limits credit card rates to no more than 18%, nationwide.
