Credit card rates are at new highs. We look at what’s up with banks and plastic — and more.
Interest rates in America are at stunning lows. Interest rates on American credit cards are suddenly at nine-year highs.
Just when Americans are trying to get off “plastic” and out from under credit card debt. And just when new consumer protections have just come fully into effect. This hour, we ask why.
Plus, we look at the near-collapse in American home sales, even as mortgage rates hit all-time lows.
And we look at the endgame maneuvering over who will head the new Consumer Protection Agency.
Alexis Leondis, reporter for Bloomberg.
Nessa Feddis, vice president and senior counsel for the American Bankers Association, which represents the majority of credit card companies.
Ed Mierzwinski, U.S. PIRG, a consumer advocacy organization.
Diana Olick, real estate correspondent for CNBC.
Jake Tapper, senior White House correspondent for ABC News.
Here's the YouTube video supporting Elizabeth Warren that has gone viral:
This program aired on August 25, 2010.