They are already regulated. Enforce the laws we have. If you "lay down the law," fewer people will even get cards. I guess they can go to the loan sharks. I am against bailing out the banks and CC companies. With credit card defaults at an all time high, they are making their credit tighter. Think maybe they learned the lesson of what happened to the banks when they loaned too much to too many people? Remember, you don't have to carry balances on your card. A good way to avoid high payments.
Posted above: The idea of not regulating these companies would lead to more debt!!!!!!!
What? Wait, the CC companies increasing the rates will DECREASE debt, not increase it.
gregknappexperience 2 years ago
They are already regulated. Enforce the laws we have. If you "lay down the law," fewer people will even get cards. I guess they can go to the loan sharks. I am against bailing out the banks and CC companies. With credit card defaults at an all time high, they are making their credit tighter. Think maybe they learned the lesson of what happened to the banks when they loaned too much to too many people? Remember, you don't have to carry balances on your card. A good way to avoid high payments.
gregknappexperience 2 years ago