rate cap in this country our credit union credit now, that'sight cap, by federal law, that said that cap at 15%. in's make sections to where the national credit union board can, under certain circumstances, race that cap about 15% if it feels like it is necessary for the financial soundness of the credit union can'tasically, that rate -- cap has been at 18% for 30 years. basically, i was on cortez and mr. sanders are basing this rate cap on the original letter of the law and not necessarily on where rates stand at the moment. the -- the rate cap is 20 -- 18%. >> we want our viewers rate on this proposal. we will do two phone lines for this segment. if you live in eastern schedule time zones, call 202-7 48-8000. 202-8001.e zones, perspectivee your on the credit card usage and experian,, they are one of the credit agencies, credit -- total debts on credit cards is $800 billion. the average number of credit cards for each of us is about three. the average balance is about $4200. the number of delinquent cardholders is over 30%. matt schultz, when he get more on your take on these ideas, but is here from senator sanders on his proposal. atright now, you are

credit union credit cards. by, right now, that cap, federal law, from the federal credit union act, that set the cap at 15%. but it also built in some exceptions to where the national credit union board can, under certain circumstances, raise if it feelsve 15% like it is necessary for the financial soundness of the credit unions. basically, that rate cap has been at 18% for about 30 years. basically, they are basing this on the original letter of the law and not necessarily where rates stand at the moment. because the current credit union rate cap is 18%. host: we want to get our viewers opinions. we will have two phone lines and split the lines regionally. if you live in the eastern or central time zones, call, (202) 748-8000. if you live in the mountain or pacific time zones, call (202) 748-8001. we look forward to your calls on this idea. a little perspective here on credit card usage and debt in the united states. from experian, one of the credit agencies, total debt on cutter cards right now, $800 billion -- on credit cards right now $800 billion. the average number of credit cards for each of us is around three. the average balance is 4200 dollars. and the number of delinquent

credit union credit cards. by, right now, that cap, federal law, from the federal credit union act, that set the cap at 15%. but it also built in some exceptions to where the national credit union boardrtain circumstances, raise if it feelsve 15% like it is necessary for the financial soundness of the credit unions. basically, that rate cap has been at 18% for about 30 years. basically, they are basing this on the original letter of the law and not necessarily where rates stand at the moment. because the current credit union rate cap is 18%. host: we want to get our viewers opinions. we will have two phone lines and split the lines regionally. if you live in the eastern or central time zones, call, (202) 748-8000. if you live in the mountain or pacific time zones, call (202) 748-8001. we look forward to your calls on this idea. a little perspective here on credit card usage and debt in the united states. from experian, one of the credit agencies, total debt on cutter cards right now, $800 billion -- on credit cards right now $800 billion. the average number of credit cards for each of us is around three. the average balance is 4200 dollars. and the number of delinquent cardholders in

regulators that the heads of the office of currency, federal reserve board of governors, insurance corporation and the national credit union administration all testified, this is about two hours . >> the committee will come to order. today we will receive testimony from joseph, the comptroller of the currency, randall quarrels federal reserve vice chair for supervision, the chairman of the f bic and rodney hood the chairman of the ncua we welcome all of you and thank you for being here. this hearing provides the committee the opportunity to invite examine the current rate related to prudential regulation and supervision. the most recent report on supervision and regulation reports that the performance of the economy over the last five years has contributed to the robust financial performance of the u.s. banking system. that over the past five years the banking system has expanded loans by nearly 30%, and encouraging development. it's been nearly a year since the enactment of senate bill 2055, the economic growth, regulatory relief and consumer protection act, each of the agencies has taken additional steps to implement key