Yes, I will.
Our estimate is that consumers provide $200 million in annual costs to financial industry advocacy efforts.
We are asking for three simple things.
Yes, you can cap credit card interest rates, but you need an independent audit first, which should go back at least 10 years. It would require the credit card companies to prove that their prices and interest rates have been fair throughout that time period and that they've only been making a basic profit that's reasonable, not an excessive profit.
Second, we need to require the institutions to enclose a one-page pamphlet like this lick-and-stick envelope in their mailings to customers. This would invite customers to join their own “bank watch” facilities at no cost to industry and no cost to government.