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Credit Card Debt's Mighty Grip on Black America

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Uploaded by on Mar 30, 2011

Studies show that black people are shouldering a disproportionate burden of the nation's credit card debt, and thus are among those consumers who contribute the most to credit card industry profits.

Several years ago, study data found that black cardholders who carry balances on their accounts are more than twice as likely as whites to pay high interest rates.

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