The Wall Street Journal reported this week that credit card delinquency is near an all-time high in the US. And just yesterday, a new financial overhaul bill that includes the creation of a new consumer finance protection agency made it through a Congressional committee and will proceed to go up for debate in the full House of Representatives. So it would appear that changes are coming in the way that banks and credit cards are regulated.
In Frontline's latest documentary--now available online--correspondent Lowell Bergman takes a look at the consumer loan industry, how Americans built up so much credit card debt, and what changes might be in store for the industry. In this excerpt, he talks with one former industry banker about "stealth pricing":
You can watch The Card Game below, or by clicking here. Frontline provides excellent supporting material on the program website, here.
Posted
12-03-2009 9:34 AM
by
Graham Griffith