MAHONEY HR627/SCHUMER S.235 FALL SHORT OF CAPPING INTEREST RATES

Congress-women Carolyn Mahoney #HR627/Schumer S.235 Credit Card legislation falls short in many ways, most importantly is a CAP on the INTEREST CHARGED. I faxed the letter below to Congress women Mahoney with my thoughts:
Congress-Women Carolyn Mahoney (14th) NY
202-225-4709

Hello Ms. Mahoney:

I attempted to email you, but your website would not allow me too.

I don’t live in your district.

I have copied and pasted my message below:


YOUR BILL HR627/ S.235 SCHUMER

Your bill doesn't go far enough.
• We need a CREDIT CARD INTEREST RATE CAP OF 10% on all credit cards. A cap on late fees, surcharges to not more than $10.00 per payment period.
• We need a 14-day window to pay the bill beyond the actual due date
• We need to restrict credit card offering to those with a FICO score under 600 to not more than $300.00 to $600.00 until the individuals score rises above FICO 725.
• We need to eliminate the $15.00 to $30.00 charge when a person phones in a payment. We need to eliminate the $39.00 late fee, that is charged and much more.

YOUR BILL IS SHORT ON MANY POINTS. I NOTICED YOU COLLECT BIG BUCKS FROM THE REAL ESTATE, FINANCIAL AND INSURANCE LOBBY.
YOUR BILL APPEARS TO BE PRO CREDIT INDUSTRY BILL ALONG WITH SCHUMERS THAT WILL BE WATERED DOWN EVEN FURTHER.

I have 1-million plus Fellow Tweets spreading the word globally to stop using credit cards by Capital One, CITI, and others. They will know about your bill and S.235 in moments. 10:38 AM.

Joe

______

What is your thoughts. You can Fax Cong. Mahoney at: 202-225-4709
PASS THE WORD TO YOUR FELLOW TWEETS. STOP THE LEGISLATION ABOVE. IT IS PRO-BANKING INDUSTRY. IT ONLY SLAPS THEIR HANDS, IT DOESN'T RESULT IN REAL CHANGE.
Go Phillies