Letter: Credit card issuers charge too much
The Consumer Financial Protection Bureau is testing a prototype credit card agreement that the White House says is shorter and written in plain language. (May 4, 2011) Credit: AP
In a story about the man accused of loan-sharking, Newsday quoted Nassau District Attorney Kathleen Rice saying, "Any loan with an annual interest rate of more than 25 percent is considered criminal" ["Man accused of loan-sharking," News, Dec. 8].
Can you please add that, therefore, credit card issuers who are charging 29.99 percent are also considered criminal? In my book, the banks are criminal for charging Mafia-type loan rates.
Why aren't Rice and her department filing charges against banks for this?
Waseem Noor, Glen Cove
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
