The California lawyer who refuses to pay his Bank of America credit card took his case to cable television on Tuesday, telling MSNBC that the 28 percent interest rate on his credit card is "completely extortionate."
Ben Pavone has demanded a reduced rate on his card. If Bank of America refuses and instead ruins his credit report, which is likely, he says he'll sue. An anchor asked Pavone why he thought he was so special, given that so many people are in a similar situation and aren't making such a fuss.
"We bailed you out when you needed our money and you can't go around collecting money from the government at one percent and then charging 28 percent," said Pavone. "I mean that's a ridiculous spread. It's completely extortionate, and somebody's got to take a stand."
Pavone said Bank of America had not responded to his demand.
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