Here’s an interesting Q&A from the Washington Post on Monday on the implications of credit card reform, which passed the Senate today in an overwhelming 90-5 vote – now we know how many bankers are in the Senate – and is headed for conference.
And here’s the Post story on today’s vote.
Now, everyone may be paying a $50 annual fee and 18 percent interest to use a credit card.
Ah, the horror.
We could chat until Judgment Day about the wisdom of carrying revolving debt and the wisdom of deregulation. What are your thoughts on both?