Credit Card Industry Defeated for Now

By American News Project

April 10, 2009

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In light of the $850 billion in American credit card debt and increasing fees and penalties the senate and congress both passed bills banning the most abusive practices of the credit card companies. The overwhelming influence of banking and credit lobbyists seems to have been thwarted for the time being but delays in the implementation of new regulations could likely continue the practices.

--Gabriela Resto-Montero

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