Obama requires credit cards to end their high interest rates

We know that this school of management topic is because school of business we suffer a monthly basis we use credit cards. The issue of using credit cards is another issue I play several times in the guide: “What I do with my money.” U.S. President yesterday announced a new bill that seeks to end the abuses of credit card firms, which required preventing unexpected hikes interest they charge. Barack Obama look so oxygenate consumers hit by the business school economic crisis and debt, in a society in which the “plastic” is king. The president received business degree the fourteen major industry players to convey the anger of consumers facing increased charges and high interest rates and announce that it will promote reform in Congress. Its purpose is to find ways to protect consumers during a severe management courses economic contraction, without imposing rules that hinder the issuing of cards by banks or credit that business puts off consumers. The government distance learning tried to ban unfair hikes interest rates charged for buying on credit, as well as commissions and sometimes abusive penalties apply. Extracts send companies will have to be written in plain and simple. National Magazine Exchange “No more fine business administration print, business schools no more ‘terms and conditions” confused “Obama said. The president also claimed that firms provide customers access to their contracts, especially through the Internet, and to simplify the terms on which graduate school it would offer new products. “People start with interest rates low and barely noticed, doubled rates begin to appear in their accounts unfamiliar duties,” the president before the TV cameras next to the executives. It exists in the sector, “said school rankings Obama-” a complete lack of clarity in terms of the conditions “of use tarjetas. The business of” plastic “grew exponentially over the past few years in the U.S., where in January 2009, the debt incurred by this method of payment was U.S. 963.000 million, according to Federal Reserve data. Over three quarters of households use credit cards, with an average debt of 7,300 per family. A fifth of them, according to 2006 data, which were paid interest above 20 . With the deepening of the crisis, delinquency and default rate grew by a third since 2006. Each year, card companies raise U.S. management school 15,000 million in penalties, representing 10 of all revenues from the industria.

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