Place a cap on credit card interest rates of 10%

A few decades ago, banks couldn't charge the outrageous interest rates they do today, which may soar over 30% per year if you miss one payment by one minute. These usurious rates do not affect the wealthy--but can cruelly hit people when they are down. The reduced spending power as a result of this greed is harming our economy, and benefiting only the banks and the wealthy. The maximum interest rates were almost tripled when Newt Gingrich shut down the government. President Clinton agreed to these gouging rates as part of the compromise to revive the government. Gingrich is gone. Now is the time to repeal his usurious rates, and set a cap of 10% interest for all credit-cards. Provide relief to those struggling to get out from under debt, and create more discretionary spending power.