I'll do so as quickly as I can.
These are small steps forward, yes. Our issue is that none of the proposals do anything to prevent gouging. They don't decrease the already excessive credit card interest rates, and as has been mentioned, interest rates are at an all-time low and yet credit card rates are extremely high. Nor do they deal with the extra interest rates and the fee hikes that banks and other companies have unilaterally imposed in the last few years, or the overcharging for various credit card and other banking services. So these are small steps forward but much more can be done.
Directly in relation to this bill, we're of the opinion that the $500,000 is not nearly enough to serve as a deterrence for banks who posted a $7 billion, 5.3%, increase in this fiscal year.