The Credit Card Economy Comes Home to Roost

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Credit card companies offered high limits and low interest rates to millions of US consumers. Then came the Great Recession. When we first broadcast this program in March, companies were reducing credit lines, jacking up rates and closing accounts — and they're still at it. Credit card reform was passed and signed into law, but Congress gave the industry nine months to end most of the outlawed practices. So what you  hear today will be valid through this year's Christmas season. We can still ask, who's looking out for consumers?

Credits

Guests:
Kelli Grant - Senior Consumer Reporter, SmartMoney.com, Robert Manning - Rochester Institute of Technology, Gail Hillebrand - Manager, Consumers Union's Financial Services Advocacy Campaign, Dan Ariely - Duke University

Host:
Warren Olney

Producer:
Karen Radziner