The People's Email Network Last 25 Messages Transmitted Log Go Back S. 627 Is A Sham Without Usury Protection ********** [205910:091409] D.W., Atlanta, GA Many people are going into foreclosure over this usury.It has caused a domino effect that may never be repaired in our lifetime.To what end?It has enabled the credit card companies to bankrupt many.It is in fact salt in an open wound.I will not vote to re elect anyone representing me again who has put me in this position.I will not ever forgive or forget ********** [213235:071809] R.B., La Jolla, CA Protection against the Credit card industry is a must. We the American consumer should not be exposed by our government to the Usury practices of this industry. The current reform legislation passed by the Senate does nothing to limit the interst on cards. Card companies are running what can be described as nothing less than loansharking operations with an assist from our Democrat Senate. where are the principles this party has long stood for! This is all the more reason to have Publically financed elections we need to get the corperate money out of government! ********** [064840:071409] D.M., Duncanville, TX S.627 is a sham.You have done little to protect us from the greed and rip off of the banks. You even give them 9 more months to do their dirty work and think up more schemes to con us. Please don't brag about curtailing bank bad practices,you didn't even put a limit on interest charged. This is a sad day when the banks own the Senate. ********** [155508:063009] C.V., Mount Holly, NJ Having usury as a component in any recovery dooms it to failure. the money already loaned must be paid off at reasonable rates regardless how far behind the lendee is. The financial market built a lending scheme from whole cloth and nearly ruined western civilzation in the process. I propose a revaluing of all assets and liabilities to correct this, if it's not too late. ********** [083324:062909] D.S., Saint Paul, MN EVOLVE! ********** [083303:062909] D.R., Saint Paul, MN EVOLVE! ********** [083222:062909] D.R., Saint Paul, MN EVOLVE! ********** [181927:062809] J.T., Melbourne, FL How much blood can the credit card companies try to squeeze out of the stones they call customers? I say get as many cards as you can, only use them to buy gum and always pay the balance every month, causing the credit companies to spend money to keep the accounts open while not making a dime off the user in interest. They've made enough money off us in unfair interest rate changes. ********** [170346:062209] A.F., Eugene, OR Yes I agree. Limit interest rates, and the ability of banks to charge any fees related to their services. Late fees, etc, overdraft that can amount to %1000. ********** [163845:061709] B.P., Lancaster, PA The government of the United States and the Federal Reserve Financial System are fraudulent. They no longer serve their intended proposes which were to protect the interests of all of the citizens of this country equally. We can do without them both. Burn money. It is silly, worthless paper fantasy. ********** [190242:061309] R.D., Longview, WA We have a Democratic majority in both the Senate and the House, but the Right Wing still seems to control the naature and flow of legislation. Meaningful credit card reform and universal health care should have been easily achievable, but we got neither. Why? ********** [062659:061309] R.B., Blacksburg, VA The principal protection that we need is an absolute ceiling on the interest rage charged for any credit card loan. Surely it is reasonable to place a limit of 15% effective annual interest on credit card loans, including cash advances. As consumer who expect both honesty and restriction to reasonable profits, I believe we are entitled to insist that all credit card interest charges be limited to 15%. This would serve us all as a major protection against usury and as a means of improving the structure of our economy. ********** [115754:061009] T.M., Apopka, FL Please take a close look at this. It's bad enough that they're taking our tax money. They've been gouging us for years as it is. Please clamp down on these thieves. ********** [223539:060809] M.E., Albany, CA A TOP interest rate of 12% or 15% is highly generous for all lending. Why does Congress allow loan sharking? Do you want to be know as handmaidens to loan sharks? It is unbelievable that Payday Loans can't be controlled - and that our 'proper' loan sharks - Citibank and Bank of America etc - can't be stopped either. ********** [203503:060809] J.C., Hyde Park, MA People need real protections. If we don't truly clean up this mess now by banning usury, we will run into the problem again and again. There is no way out of debt under usury. Please give us real protections. Thank you. ********** [111026:060809] p.a., Houston, TX THIS CREDIT CARD BILL IS A TOTAL SHAM - WITHOUT ANY REAL PROTECTION FOR THE CONSUMER AGAINST USURY. IT ALLOWS CREDIT CARD COMPANIES TO CONTINUE TO CHARGE CONSUMERS OUTRAGEOUS RATES (30%), WHILE AT THE SAME TIME THE GOVERNMENT IS BAILING THEM OUT WITH ZERO INTEREST LOANS !!!!! CONGRESS SHOULD BE ASHAMED OF THEMSELVES !!!!! ALSO, ATTACHING TOTALLY UNRELATED LEGISLATURE TO A BILL IS COMPLETELY IMMORAL AND SHOULD BE COMPLETELY ILLEGAL IN A REAL DEMOCRACY !!!!! THIS BILL IS AN ABSOLUTE DISGRACE AND AN GLARING EXAMPLE OF WHAT DEMOCRACY SHOULD NOT LOOK LIKE !!!!! ********** [210645:060709] J.D., Kerrville, TX The credit card legislation is disappointing, especially the failure to establish a limit on interest of 15 percent. I fear that the legislation will provide little practical protection for the consumer. The rider allowing loaded guns in national parks is not germane to the subject of the bill. It should have been in a separate bill, and it should have been defeated. ********** [052906:060709] W.G., Rochester, NH I appreciate the work done so far to reform the credit card industry, but you must do more. Interest rates need to be brought into line with the current economic times. Default rates of 30%, $39 late fees, and $39 over the limit fees do not help any credit card holder, it only lines the pockets of the banks at a very rapid rate. Instead of building the consumer's debt on paper, credit card privileges should be suspended or canceled until the debt is paid. ********** [232315:060609] D.W., Grass Valley, CA Most Honorable Members of Congress: I would like to humbly submit the above petition regarding ending the practice of employing usury rates by credit companies and banks. From experience I have learned that this type of predatory lending will lead to quick money for the creditor at the outset and later financial disaster for all. What we are experiencing today is strangely identical to what occurred in the credit market just prior to the stock market crash which ushered in the Great Depression and created the conditions that led the United States of America into a bloody and costly world war. There are those who believe that the world can survive another Great Depression and a third world war, but like the great General Douglas MacArthur I am not one of those short-sighted ambitious fools. Therefore, I believe like the General that we in America cannot allow our financial system to fail and collapse us into the chaos sof nuclear war. It is with this in mind that I appeal to your patriotism and sound reasoning to avert what is certain to become disaster if it is not stopped at its early stages. May God bless you and your families and loved ones and may God continue to bless and protect the USA. Sincerely, Dan Whittman PO Box 1672 Grass Valley, CA 95945-1672 ********** [030830:060609] C.K., Mount Kisco, NY Thank you for making an effort to rein in credit card companies' abuses. I believe that it's a start but until the maximum amount of interest they are allowed to charge is limitied to a much lower percentage, their ability to "punish" people who have already suffered job losses etc. will continue. Please understand that it is very important to set the amount that is usurious much lower if the new law is to be effective. ********** [115820:060509] A.L., Portland, OR When are our elected officials, our employees, going to act for the peoples' welfare? Ensuring corporations' bottom lines while citizens are losing jobs and homes and so unethical that I can hardly believe that the House is doing this! Where is the change that we voted for!?! ********** [105854:060509] k.y., Fort Bragg, CA anything over 2% destroys an economy, at least... Do the Right Thing, keep Chaos at bay! ********** [102302:060509] c.w., Altadena, CA All you fools in Wash. should pay attention to all the crasy fools buying up all the guns and ammo and start doing right by your constituants.Regulate credit card co.s ,wall street,huge corps.that took all our jobs over seas and start running this country instead of letting the C.I.A and failing Big Buisness do it. ********** [063403:060509] J.F., Isanti, MN You must make them cap the intrest rate. What is wrong with you don't you care for your people? ********** [000214:060509] R.W., Powell, OH It truly amazes me that everyone agrees that more regulation is needed but we cannot seem to pass any regulation with teeth in it. ********** Go Back