73 Reds

LOL, what part of "insignificant" don't you understand? I could care less about overdraft fees either way.

Is that the best you've got? Overdraft fees? Insignificant.

@dwy000 you have entirely no clue what all is important to me. One thing that is NOT important is who my views align with.

Indeed; it was a free country that voted in our last President. Yet many can't seem to get over it.

How about not extending credit to those who are not credit worthy? I know, novel concept. Or ever heard of a secured credit card? Another novel concept. There are many more alternatives for both issuer and borrower. Yeah, too hard. Takes work.

Eh, most here do. Its those in my closest social circle that are much more interesting. By some of their posts on social media you'd think they were downright kooks, but nary a word when we are together. My wife and I laugh about how hard that must be.

Its truly fun watching people do mental gymnastics over Trump.

Now you're must making stuff up. Who said anything about banning credit cards? I get it, you don't believe in usury laws.

I don't believe in fleecing people that don't know any better.

They can still have to pay the highest rates but not rates than no one can afford.

Wrong again. That's why we need limits.

And why do you think usury laws apply to smaller loans? Most of the *other* loans on your list are secured in one form or another. I'm referring specifically to CC debt. The most ignorant, vulnerable, least educated folks with the least means wind up paying the highest interest rates. Glad you're OK with that; I'm not.

Then to me your definition of capitalism is unbelievable.

Don't know where you are looking but every State in the US has its own legal definition of usury and its own exceptions. In Florida the rate is 18%/year.

Usurious interest rates are predatory and wrong. Using your logic we should have no cap on interest rates at all. Circling back around to the actual "politics" of this thread, I am sorry that it took someone like Trump to bring this issue to the forefront and truly hope something good comes of it, if not now than at some point in the future.

20%+ interest rates are largely aimed to take advantage of people who can least afford them.

<< I can't figure out>> Yep.

Sure Sanjeev, everyone should pay exhorbitant interest rates. Nice lesson there!

@dwy000 You genuinely remind me of my kids when they were teenagers. I'm done here.

That's horseshit. No foresight whatsoever. And not good for the economy, society, the debtor or his/her creditors.

The punishment and solution for not being able to pay your bills should never be an increasing inability to pay your bills.

No! How is it that college students are literally bombarded with CC applications?

I think that is just silly. Find me someone (anyone) who applied for a CC with the specific intent to pay max interest and minimum monthly payments. No one is happy or content doing that. And it is not good for anyone. It should not even be an option to begin with.

Student loans is a more complex issue. I have no issue with student loans (or any loans, really) as long as there is a legitimate means of repayment by the debtor. Ideally, the purpose of the loan is an education that leads to a productive job or career; hardly the same as financing consumer debt. I also don't know of any student loans at rates of 20%+/year. And student loans are not the only way to get an education for those without means; I went to school with many folks who worked to pay for their educations while going to school (myself included). Others pursued alternative forms of assistance like grants, scholarships, etc... It is a complicated issue because of how valuable a higher education is normally viewed.

Legal gambling (as opposed to illegal gambling with a bookie, e.g.) is a different issue - theoretically you can only lose what you bet, you don't pay perpetual interest on your losses. You can lose everything you bet but not more than everything.