Establish a Federal Usury Law prohibiting interest rates above twenty-one (21) percent for any transaction.

This petition seeks to end the high interest rates charged by credit card companies and other lenders. High interest rates on loans and credit cards generate high profits with none of the these profits being reinvested in the production of goods and jobs. High interest rates are counterproductive in an economic recovery since they absorb large amounts of capital and raise the cost of items purchased by consumers, An item purchased with a credit card can cost (with minimum payments) three or more times its original price, thus making less capital available to spend on goods. Allowing the exorbitant rates that exist now (many times increased on a whim by the issuer) is simply a transfer of wealth from the middle and lower financial classes to the very top.