Anger toward credit card issuers
Re: David Lazarus’ consumer column, “Reversing the charges,” April 24:
Consumers are outraged that banks received billions in bailout dollars at prime rate while they continue to raise consumer credit card interest rates.
We have personally seen rate hikes of 9-10% at a time.
In this economy, card issuers are making it impossible for the average person or small business to make substantial enough payments to reduce consumer debt.
How high do rates have to get to constitute usury?
Maria Impala
Pasadena
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Unless Congress enacts a law, the credit card issuers will continue to abuse all of us.
It’s legal extortion. It will undo the stimulus package. All the extra money people have will go to paying the loan sharks.
The only way to stop them is by law.
Keep the heat on them. Only with a total angry public will this stop.
Cast out the moneylenders, cut up their cards and send them back.
Sandra Frye
Phillips, Wisc.
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