The Federal Reserve Bank of Chicago has published a working paper titled "Consumer Choice and Merchant Acceptance of Payment Media" by Wilko Bolt and Sujit Chakravorti. READ MORE »

Georgetown Associate Professor of Law Adam Levitin writes on the Credit Slips blog about his op-ed piece that ran in the Friday's Detroit Free Press and Sunday's San Diego Union-Tribune.

In his op-ed, Levitin writes: "The card industry’s business model is the heart of the problem and needs to change. Just as with subprime mortgages, the credit card business model creates a perverse incentive to lend indiscriminately and ignore delinquencies."

Read the full article for more.