Big Pharma does exact same thing. My sister's epi pen jumped from $25 to $300+ each and that is w/insurance. Plus, she has to always have on on hand although they expire after 6 months.
@TheBloodworks3 firstly, this isn't medical advice but fyi Epi pens actually last 12-24 months. The FDA goes off the color of the liquid as the first signs of breakdown are a browning or opaqueness of the liquid inside. They put a 6 month stamp on it for liability but something like 88% of pens last beyond 18 months. It's also advisable to keep a few after their expiration as it's medically recommended to use an expired one versus not using one at all
Hawley, the house and senate have the power to make the right changes for US Citizens. This "raping" by the credit card companies has been going on far too long. Get it done, Josh.
They are all just blowhards who put on big shows for the cameras and do absolutely nothing about any of the things they grandstand for. Hawley probably owns shares of Visa and Mastercard himself.
If you cap unsecured credit at 10% interest, you eliminate the willingness of lenders to provide unsecured credit. The default rates are far too high. 11% of all credit card balances are delinquent, and the loss rate in unsecured lending is in the high single digits.
@@HH-le1vi Where? In Ca, it is Usery for a non-financial institution to lend above 10%. My dad lost in court because the Late fee took it over 10% (the guy never paid in the end as the contract was ruled invalid by the court)
@@steveurbach3093 you register as a Credit Access business and then broker loans. As long as the original loan rate is 10%, they can charge whatever they want for arranging and guaranteeing those loans. Payday and auto title loan companies use that trick to charge way more than 10%.
Well done Josh! We should totally be reforming the credit card/bank/big tech monopolies. What terrible behavior on behalf of the credit card companies.. so predatory.
How exactly? Do you not realize that if Congress gets involved in this it will become more difficult to get a credit card? I thought republicans do not like government involved in private business. I thought they were the party of laissez-faire. Do you think hawley has a credit card? Seems to me there is a conflict of interest here. Let’s be transparent.
Paying competitors off is absolutely gnarly and these practices are way too often employed and hidden. Shame on these people. Making money is one thing but this is disgusting.
The fees they are referring to is the 2.5 percent roughly that the stores are charged when a customer uses their credit card. For example when you pay using your credit card your bill of $100 the store will be charged $2.50 because they used the credit card system to process your payment.
@@The8Don so the credit card company makes 2.5% of the sale upfront and then up to 29% of the sale to the customer, depending on how fast they pay it back of course. Pretty good deal for the credit card company
I've got very good credit finally. And I'm constantly getting credit card offers daily in the mail and online. I refuse them because I will not pay 28-29% interest rates
Usury At it’s Best! A single family can’t survive their rates. I had to have work done from a derecho. Trees had to be removed the payment was to be paid by a credit card. We were charged 3% more because my sister who lived in another state was not with us we had to manually put her card number in for payment instead of swiping the information. Many small businesses have charged extra to me as a customer. I go to a restaurant if I pay in cash it’s cheaper otherwise same dinner is 3% more if I charge on card. As a consumer I am paying the.businesses expense.
@@teebob21 Visa and Mastercard control over 80% of the market and they operate in tandem to keep competition from companies like Discover and AmEx down. Didn't you listen to what was said in the hearing?
Senator Josh Hawley is brilliant, articulate, logical and right on point when it comes to Credit Card Companies. In New Jersey their swipe fees are now legally passed on to the Customers.
Lately, I've gotten checks at restaurants with 2 totals: Pay with cash is one amount, pay with a credit card is another, higher amount. I don't blame them. The card fees are killing them.
Until the CARD act explicitly permitted that, it used to be a violation of both the Visa and Mastercard merchant account agreements to charge a surcharge for using a card to pay.
Why are we discussing this when we got bigger issues like sending money overseas, paying interest on debt we owe, student tuition cost, creating jobs, taking care of elders, social security
I remember when there was a time that Federal Law said that credit card companies were not allowed to charge over 21% any thing over 21% was considered "Racketeering "
@@Daniel-ld3zi you need to. banks dont set 30% interest on cards. it people like HAWLEY who dont pay their bills makes the rates so high. they need to make their money back.
I'm glad they're finally focusing on credit card companies. This is a racket that is tied into banks and credit bureaus. It's all a big scam driven by GREED.
Non of these corporate bureaucrats could care less about anything but making money. The answer to Senator Hawley question is BECAUSE THEY CAN. Unfortunately free enterprise is always ripe with corruption and immorality. Senator Josh Hawley is a compassionate patriot and deserves our support 🫡 🇺🇲
I ran an independent Optometric business for 24 years without EVER taking one payment by credit card. My rationale was simple- I did not want to pay 3.5 percent credit card fees on 80 percent of my business. We required payment by cash or check. My losses to bad checks were well under 1/2%. This policy MAY have caused a loss of business, but it certainly was not very much, because during the 10 years that the number was available to me, my office ranked in the top 10 offices of the 43 offices in Northern California.
I’m not sure if this guy is a republican or democrat! But if he was running in my state I’d vote for him! Few members of congress have done anything like this!
She is correct. They aren't the bank. This smells like when they went after the gun manufacturers. Just because someone might use or abuse your product doesn't make you responsible for how that party uses it.
As a small business' owner I hate credit cards and I try hard not to hit my customers with fees but is cost of business and has to be accounted for. Everyone really needs to go back to cash!!!
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
This should be on main stream news
If msm was ‘free and fair’ stuff like this would be front and centre of public view.
Same for political donors and their interests
I agree 200%. Why is no one covering this????
The Bible calls them merchants of the Earth look it up in revelations.
The same people that run these monopolies, also run the mainstream media.
Interesting that it’s not.
50% profit and paying competitors to not enter the market, that’s crazy…
Big Pharma does exact same thing. My sister's epi pen jumped from $25 to $300+ each and that is w/insurance. Plus, she has to always have on on hand although they expire after 6 months.
The system is rigged. They get cheap, easy money from the fed, and lend it for an arm and a leg to avg Joe
Crazy and by definition a Monopoly.
Yeah, 50% profit margins and the dems want to go after grocery stores for price gouging when their profit margins are less than 3%.
@TheBloodworks3 firstly, this isn't medical advice but fyi Epi pens actually last 12-24 months. The FDA goes off the color of the liquid as the first signs of breakdown are a browning or opaqueness of the liquid inside. They put a 6 month stamp on it for liability but something like 88% of pens last beyond 18 months. It's also advisable to keep a few after their expiration as it's medically recommended to use an expired one versus not using one at all
Its called Greed and it has taken over . How much $ is enough? Millions - Billions -- Trillions ?
Amen
Shareholders and the board demand More, more, more.
It will never be enough for them. I could imagine it's so devastating and unsustainable that it's capacity to destroy society is very worrisome.
How much? Just a little more than what I have.
Visa and MasterCard aren't the banks and don't make money off interest. This congressman is sneaky and you all fell for it
Hawley, the house and senate have the power to make the right changes for US Citizens. This "raping" by the credit card companies has been going on far too long. Get it done, Josh.
It's just a Dog N Clown show to give VISA and MC a que that the campaign checks better get bigger!
Well said Greg!
@@jefferyyounce5372😮
Visa and MasterCard aren't the banks and don't make money off interest. Educate yourselves
@@Daniel-ld3zi they don't make money off of interest?
This is just one of many reasons why I am proud to be a Missourian, Josh Hawley kicks ass in Congress.
It's amazing how little these CEOs know while making millions a year. I wish I could get paid to be ignorant.
They do know they're just lying.
Like everything in Chy na, it's all about CONNECTION to get the best jobs and then have a group below to do all the work.
Shoulda asked em how much they make in salary and bonuses. Prolly would said -they don't know...
Since you're willing to be ignorant for free there's no point paying you. I mean, that would be wasteful.
They were actually telling the truth. They don't make money off interest. For some reason you believed the politician LOL
Missouri was right to re- elect Josh Hawley 👍🇺🇸🇺🇸🇺🇸
Hawley, one of my heroes along with Cruz, Kennedy, & Donalds.
Love our Senators
He's a coward who incited a mob with lies and then ran for his life like a coward.
@@harveywilkinson2432did your girlfriends boyfriend tell you that soy boy?
@ true and that is very unfortunate.
@jwb4925 how pathetic is it to come on here defending a politician lol
They are all just blowhards who put on big shows for the cameras and do absolutely nothing about any of the things they grandstand for. Hawley probably owns shares of Visa and Mastercard himself.
Drain the swamps. Pull those plugs!
We filled it back up if you didn't hear!
@@Factless_WondersTaY wOke, congratulations, you succeeded in making your voice the silent minority again. Have fun, we won't miss you
Cap every form of credit at 10% interest. Put these payday 300% loansharks out of business!
Capping interest rates comes with a whole other bag of problems though. So this issue is a tricky one.
If you cap unsecured credit at 10% interest, you eliminate the willingness of lenders to provide unsecured credit. The default rates are far too high. 11% of all credit card balances are delinquent, and the loss rate in unsecured lending is in the high single digits.
For sure. Cap it at 10% not as many people will be eligible but that’s not a bad thing. Budgeting will become more important
@@teebob21
Let’s not introduce logic and facts into this discussion 😂
@@markmcg8912 Of course not. If you want to anger a conservative, lie to them. If you want to anger a liberal, tell them the truth.
MFW, I agree with Josh Hawley 100%
Why? He was sneaky in his questioning and didn't listen to the facts
29% interest lol. If I loaned someone money and charged them 29% the fbi would lock me up.
You can loan out a personal loan for up to 36% so no. The FBI wouldn't lock you up.
@@HH-le1vi Where? In Ca, it is Usery for a non-financial institution to lend above 10%. My dad lost in court because the Late fee took it over 10% (the guy never paid in the end as the contract was ruled invalid by the court)
Visa and Mastercard don’t set the rates, the interest rates are set by the BANKS who assume the risk
Well you're broke, so the money you'd be lending would likely be stolen from someone else, and theft is still a crime.
@@steveurbach3093 you register as a Credit Access business and then broker loans. As long as the original loan rate is 10%, they can charge whatever they want for arranging and guaranteeing those loans. Payday and auto title loan companies use that trick to charge way more than 10%.
Josh Hawley is the freaking best!!!!! Glad he is my Senator!!!!
Well done Josh! We should totally be reforming the credit card/bank/big tech monopolies.
What terrible behavior on behalf of the credit card companies.. so predatory.
Things are about to change in the biggest way anyone in generations have ever seen.
Time to expose all these criminals
What law(s) have they broken?
Ok.. I loved every second of this video. Never thought did I’d EVER see a politician call out the credit card companies.
Absolutely
Thank you for working for us!!!
This is the only senator is the country helping ordinary people.
Kennedy is also ....
Ted cruz
He just talk a lot. Nothing will be done with credit card companies. Just wash, rinse, and repeat
No, Ted Cruz got on them too.
How exactly? Do you not realize that if Congress gets involved in this it will become more difficult to get a credit card? I thought republicans do not like government involved in private business. I thought they were the party of laissez-faire. Do you think hawley has a credit card? Seems to me there is a conflict of interest here. Let’s be transparent.
30% interest rates used to be called loan sharking and was a felony!!!😂😂
Paying competitors off is absolutely gnarly and these practices are way too often employed and hidden. Shame on these people. Making money is one thing but this is disgusting.
Missouri is absolutely blessed to have Josh Hawley fight for them.
Customers with good credit should not be punished by high fees!!!
No one is forcing anyone to use these disgusting companies. Stupid Americans, rich and poor, choose to. Ponder that.
The fees they are referring to is the 2.5 percent roughly that the stores are charged when a customer uses their credit card. For example when you pay using your credit card your bill of $100 the store will be charged $2.50 because they used the credit card system to process your payment.
@@bellalosey3998 it's not even worth having a credit card if you have to pay all the freaking fees that adds up
@@The8Don so the credit card company makes 2.5% of the sale upfront and then up to 29% of the sale to the customer, depending on how fast they pay it back of course. Pretty good deal for the credit card company
I've got very good credit finally. And I'm constantly getting credit card offers daily in the mail and online. I refuse them because I will not pay 28-29% interest rates
That’s insane
29% is loan shark territory. They break legs if you're late with a payment.
Usury At it’s Best! A single family can’t survive their rates. I had to have work done from a derecho. Trees had to be removed the payment was to be paid by a credit card. We were charged 3% more because my sister who lived in another state was not with us we had to manually put her card number in for payment instead of swiping the information. Many small businesses have charged extra to me as a customer. I go to a restaurant if I pay in cash it’s cheaper otherwise same dinner is 3% more if I charge on card. As a consumer I am paying the.businesses expense.
Astounding and unconscionable 🤬
This guy for president
The card folks informed Josh that they do not get revenue from any interest revenue charged on the cards ... he was not listening.
just look at how much their ceo's make
The banks are lending the money but Mastercard and Visa process the transactions through their network.
These companies don't set the interest rates. It's the banks that make the big money on credit cards
Unbelievably disturbing
Excellent josh
Amazing how little people know about this. Banks set interest rates. Banks provide the credit. Credit cards simply only provide a service.
The banks are responsible for the debt and interest rate, not visa or mastercard... Half of his speech is useless
Its technically the banks that set the rates.
Why is Visa and Mastercard reps answering these questions? The banks should be answering why interest rates are so high
Make arrest!!!!!!!!!!!!
I love the way he just lays it out. Consumers are getting screwed because the monopoly has all the power.
Visa and Mastercard aren’t credit card companies. They are payment network companies (internet for your money).
Love you Sen Hawley!!! Thank you for all that you do so American citizens are treated fairly.God Bless and protect you and your family🌸🌸
Wow am not paying no more
The way the visa and mastercard operate is anti-capitalist. The duopoly needs to be broken.
The term is mono not duo.
@@hebertentertainment583 Actually no, "mono" is one, "duo" is two. Since there are two companies here, they can't be a monopoly.
@@hebertentertainment583 It's two companies, Visa and Mastercard. That means duo. Learn English.
Duopoly? I guess Discover and American Express don't exist?
@@teebob21 Visa and Mastercard control over 80% of the market and they operate in tandem to keep competition from companies like Discover and AmEx down. Didn't you listen to what was said in the hearing?
POTUS #48 Josh Hawley!!
Cap the interest rates!
I believe the word extortion is missing from your questions. 😢🇺🇸
This is amazing.
Thank you for the information and caring about the American voters and consumers. Don’t let us get ripped off.
Senator Josh Hawley is brilliant, articulate, logical and right on point when it comes to Credit Card Companies. In New Jersey their swipe fees are now legally passed on to the Customers.
Lately, I've gotten checks at restaurants with 2 totals: Pay with cash is one amount, pay with a credit card is another, higher amount. I don't blame them. The card fees are killing them.
It's no different than the business hiding the cash. It all trickles down to the little guy.
Until the CARD act explicitly permitted that, it used to be a violation of both the Visa and Mastercard merchant account agreements to charge a surcharge for using a card to pay.
Love this guy
Here's hoping Sen Hawley will be in a pivotal position moving forward as he CUTS TO THE CHASE and TELLS IT LIKE IT IS!
@@tammymurphy8574 except he didn't. Banks are the ones that charge interest
Thank you Josh, FINALLY criminals are called out. CHANGE IT!
Why are we discussing this when we got bigger issues like sending money overseas, paying interest on debt we owe, student tuition cost, creating jobs, taking care of elders, social security
I remember when there was a time that Federal Law said that credit card companies were not allowed to charge over 21% any thing over 21% was considered "Racketeering "
Credit card slavery!!!!
i like spending it. not paying it, is that the cry?
Maybe pay your credit card debt then
@@Typex96 I don't have one, doofus!
@@Daniel-ld3zi This is why I DON'T HAVE CREDIT CARDS, So you think 35% interest isn't an outrage?
@@Daniel-ld3zi you need to. banks dont set 30% interest on cards. it people like HAWLEY who dont pay their bills makes the rates so high. they need to make their money back.
What an absolute crock of crap from these cc people!
Any senate member that is not in office to vote, they should be docked pay for the month...
Go get em' Senators Hawley! Don't let up. Switch to cash and stick it to them
I'm glad they're finally focusing on credit card companies. This is a racket that is tied into banks and credit bureaus. It's all a big scam driven by GREED.
Now let’s do the insurance companies
Is Josh Hawley calling the credit card people thieves ? Were they blushing?
JOSH.
ALL OF YOU IN AUSTRALIA LOVE
YOUR WORK.
THANKYOU.
That right there is what we call being "Ethered"
Non of these corporate bureaucrats could care less about anything but making money. The answer to Senator Hawley question is BECAUSE THEY CAN. Unfortunately free enterprise is always ripe with corruption and immorality. Senator Josh Hawley is a compassionate patriot and deserves our support 🫡 🇺🇲
The lawmakers have been turning their backs to this problem for years. Interest rate caps should be no more than 5% over prime.
THIS is why I appreciate "other" news sources!
If you will, keep at those horrible people.
A lot of people don't budget their money, and you can't fix their money issues. Even so, these DISGUSTING predatory practices should be criminal.
They know they just don't want anyone especially congress too know.
I just a lot of respect for Josh ,cruz
It all boils down to GREED...one of the 7 deadly sins!!!!!🤬🤬🤬
Cap it !!!! HELL YEAH
I ran an independent Optometric business for 24 years without EVER taking one payment by credit card. My rationale was simple- I did not want to pay 3.5 percent credit card fees on 80 percent of my business. We required payment by cash or check. My losses to bad checks were well under 1/2%. This policy MAY have caused a loss of business, but it certainly was not very much, because during the 10 years that the number was available to me, my office ranked in the top 10 offices of the 43 offices in Northern California.
I pay a lot as a business owner
You tell them sir!
Check your new APR, mine went from 28.9% to 17.9%, with a 786 credit score. Still canceled the card.
I have a 754 score. Have never seen a credit card rate under 16% Now it’s 18-19%. As soon as I pay mine off, I’m done using them.
@vpiele9631 I've had a USAA card for over 15 years. It's always been 4.9% no matter what the "Feds" did with interest rates. Cap one and wells shot up
I have been with a credit card for over 50 years and am just now hearing this. shame of lawmakers, not protecting the citizens.
Josh Hawley is incredibly based.
Josh Hawley is the best ! His loyalty and honesty is incredible tell it the way it is! AMERICAN GREED !!
I'll believe it when I see it.
Yea Josh!!! Get them!!!!
I really hope something good comes out of this for consumers
Every time I see Hawley, he is LOCKED IN.
Nothing will be done
put these people in prison
Bring back the ability to discharge credit card debts through personal backruptcy. 2003 was my last time, "sigh".
They are. Also....and hear me out....maybe you could stop borrowing and spending money that you have no intention of paying back.
@@zacharysilver911 Sigh.....I know. You're right.
He’s very sharp. I can say that even as someone who voted for Harris
Utterly disgusting. 50% margin and rates over 20% to those least capable to afford it.
Cc companies don’t issue lines of credit dumb dumb
Josh Hawley should be their AG
I’m not sure if this guy is a republican or democrat! But if he was running in my state I’d vote for him! Few members of congress have done anything like this!
I love Hawley. He gets right to it.
Run Josh Run 🏃🏃🏃
This man is going to be president one day.
Run Josh, run.
This guy should run for president
She is correct. They aren't the bank. This smells like when they went after the gun manufacturers. Just because someone might use or abuse your product doesn't make you responsible for how that party uses it.
Next they will go after the ISPs because porn exists, and libraries because controversial books exist. Oh wait, they already did that.
They're not trying to legislate them out of existence. They're just enforcing antitrust law and want to introduce competition into the industry.
Josh Hawley 2028 !!!!!
Send those ceo and executives to prison
As a small business' owner I hate credit cards and I try hard not to hit my customers with fees but is cost of business and has to be accounted for. Everyone really needs to go back to cash!!!
I like this guy.