CAP CREDIT CARD INTEREST RATES DURING PANDEMIC

CAP CREDIT CARD INTEREST RATES DURING PANDEMIC

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Patrick Crudo started this petition to U.S.Congress & President Donald Trump and

During this current Pandemic there are over 30 million people out of work and most have limited resources. They and their families have quickly fallen behind on bills for their daily needs. They have gone through all of their savings and liquidated any assets they may have had but still find themselves getting deeper in debt.  They are forced to use any credit they have and have maxed out their credit cards and now find themselves paying very high interest rates. Many cards charge from a low of 9.9%  to OVER 25%. This will be unsustainable for many and will only hasten an economic collapse.

I propose legislation to cap interest on ALL credit cards at 10% for a two year period.  I feel that this would still give banks and other lending institutions the ability to still show a profit and would help save millions, or even billions of dollars for every American with a credit card. It would give families extra income to spend and help boost our economy.

Please sign this petition and add your voice to help many Americans get through these hard economic times.

0 have signed. Let’s get to 200!
At 200 signatures, this petition is more likely to be featured in recommendations!