[Razzz42]

Yeah, I don’t see the problem here. Other entities will fill the void until unbanks are declared illegal.

I don’t remember Congress capping % rates on credit cards, even being charged 45% is not considered usury but legal.

[CutePuppy]

Paying $72 (+ other selected fees) for formerly free card is hardly a "competition," but in the world of government-controlled "safe" credit, I suppose it will pass for one.

I don’t remember Congress capping % rates on credit cards

No worries, Elizabeth Warren, new "consumer protection" czar, had the credit card industry and its "usurious" interest rates and fees in her sights for a long time. She'll make sure that they will also be "safe" from bankers' abuse, and everyone will cheer new government-created opportunity for "competition".

[packrat35]

Before Congress uncapped them during Bushes’ presidency, the states capped the interest rate at a rate specified by the state. Congress IS responsible for the 45% rates.