Bailing Out the Credit Card Industry?
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.
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