Don’t clampdown on credit cards
December 18, 2008 | Wall Street Journal, alternatives, industry | Comments (0)From the Wall Street Journal’s opinion piece today:
But now seems like a particularly inopportune moment to tell banks that they should do less to manage their exposure to credit risk. Banks are already pulling back on consumer credit as the economy worsens and the credit crisis drags on, with lower credit limits and higher rates. If the Fed votes in favor of its new rules Thursday, expect that trend to accelerate.
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