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"A Once-Glittering Business Loses Its Shine"

That's the subtitle on a pretty pessimistic story titled "Knocked off balance" in this week's Economist about credit cards in America. "These days lenders are in a spin as they struggle to cope with write-offs, a regulatory crackdown and changes in consumer behaviour."

Separately, the Wall St. Journal covers the credit card regulatory changes with two articles today: "U.S. Banks Risk Losing Trump Card" and "Card Firms' Loss Tally: Billions of Dollars in Fees".

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The credit card industry should have self-regulated before practically forcing Congress to step in.

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