In 1981, Du Pont helped establish the credit card industry in Delaware, in a race against South Dakota, which the year before had abolished its usury law limiting the interest rates that banks can charge consumers for credit. At the time, du Pont's cousin Nathan Hayward III advocated that tiny Delaware aspire to become the "financial Luxembourg of America" - a tax haven for corporations, yacht owners and credit card companies permitted to charge unlimited interest. Former Du Pont Chairman Irving Shapiro, a lobbyist for Citigroup, helped Gov. du Pont pass the Financial Center Development Act in 1981 with the cooperation of the leadership of both parties and others in state and local government. Intended to attract two New York state banks that would hire at least 1,000 employees, the law eventually drew more than thirty banks to Delaware, creating 43,000 new finance related jobs and leading the state away from its previous dependence on the chemical industry in general and the Du Pont Company in particular.