Because banks were having trouble deciding what was reasonable, we have gravitated toward 1 percent of the principal. This is not a hard and fast rule, and banks may establish other payment amounts. |
We can't really comment [on the impact of the decision]. We just let the letters speak for themselves. |
We thought that was something that wasn't right. The minimum payment should have some effect on reducing the debt. |
What is a reasonable amount? One percent of the balance was what was decided to be reasonable. |