Madam Speaker, it is very clear that people pay their balances in good faith and that they have to work very hard to do that. There are a lot of families who make great sacrifices in order to do that. The fact that interest rates stretch back into the previous month and ignore the fact that a payment has been made is usurious. We have to change that absolutely. The interest must be on the current balance and it must not be backdated.
If the banks were asked to backdate their payments to their clients and to their employees, I am sure they would refuse to do that.