My idea is not new, but it does address a dire need which has been shuffled to the back of the deck several times before. Here are a few links I found while searching for information related to past cases regarding credit card interest rates:
According to the latter link, it appears that New Jersey sets usury at 30%, one of the highest stated on the list.
This brings us to the debate: Should we have a national standard for legal limitations on interest, or lobby to amend the laws state by state?
I see no downside to federal reform. New Jersey has a higher average income per household and higher cost of living than most states, but percentages have a similar affect across the board.
The petition is right here: http://www.petitiononline.com/cccir299/petition.html