Calling the Credit Card Bluff
The Los Angeles Times has an article responding to the statement of the ABA that it would be tougher for consumers to get credit after reform of the credit card industry. Essentially, it argues that credit card companies will still have every incentive to lend money to consumers after increased credit card regulation.
It also provides instructions for the public to submit comment to the Federal Reserve regarding its proposed regulations. Since the credit card companies will undoubtedly be commenting, it’s important for the public to comment as well.
