Credit card usury bill coming soon in House

Posted by & filed under Part 5 Managing Technology and Information, Part 6 Managing Financial Resources.

Description: Several congressional Democrats said on Wednesday they plan to introduce legislation next week to cap credit card interest rates.

Source: Reuters.com

Date: 11/25/2009

Link:  http://www.reuters.com/article/politicsNews/idUSTRE5AO4ZO20091125

Questions for discussion: 

  • What the arguments for and against regulating credit card interest rates?
  • Do you believe rates should be regulated? Explain your answer.
  • What are the likely consequences of a more highly regulated credit card industry for the consumer and for the banks?

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