10% IS ENOUGH! Anti-usury campaign
Background: Cap interest charges at 10%. Usury, simply defined, is the over-charging of borrowers. By trapping consumers into sub-prime mortgages, endless credit-card debt, payday loans, sky-high overdraft charges, and other outrageous financial snares.
AIM & our Sister Metro IAF Organizations’ Successes: Metro IAF is the first group to organize serious institutional and public money out of the worst offending financial institutions. This includes: A) Over $230 million dollars from the Commonwealth of Massachusetts out of Bank of America, Citibank, Wells Fargo, and JP Morgan Chase B) $25 million from the Lutheran Church, Missouri Synod (NY Eastern District) C) Civil Service Employees Association, New York’s largest public employees union.