Credit Card Interest rate charges are too high.
Posted in the Top Stories Forum
Since: Jan 13
#1 Jan 10, 2013
The cost of funds that big banks pay is: 1/10/13 The last reported rate is a range between: 0.00 % and 0.25%( Fed Funds rate)
Yet our government does NOTHING to keep these banks from charging 25-28% interest rates to consumers..NUTS!
I think a far rate of return in 3% over cost (0.25%) period.
Guess what the cards would be pay-off at a MUCH higher rate. Therefore lower risk. I am business conservative by this is wrong.
Sen. Warren (D) Mass is the only pro consumer advocate working on this problem.
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