Tuesday, May 19, 2009

New York Times: Credit Card Industry Aims to Profit From Sterling Payers

An article written by Andrew Martin quotes Edward L. Yingling, the chief executive of the American Bankers Association, “It will be a different business,” said Mr. Yingling, “Those that manage their credit well will in some degree subsidize those that have credit problems.” The American Bankers Association has been lobbying Congress for more lenient legislation on behalf of the nation’s biggest banks.

Click here to read the entire New York Times article.

1 comment:

Matthew said...

I read this article on my own this morning and I cannot stand this! I am one of the 50 million who enjoy countless free airline tickets and Xbox games thru my Credit Card rewards program. I use my card for everything from a pack of gum to Belmont classes. This is something we need to keep, if I was charged a fee or an extra few cents on each transaction, I would give up the card instantly.

Dee, you need to start a petition!