Lenders’ ethics under control
Some call it legalized loan sharking. Others point out that this is the only way to ensure that all Americans have access to credit.
In both cases, the practice of granting credit credit card come increasingly under the control of these days, given that the United States Senate and Parliament considers that the legislation would control of these companies to increase the capacity of interest rates for cardholders’ unpaid balances and recharge Interest on late or on - the limit charges, among others.
The court of public opinion is already polarized, which critics call predatory lending practices - Company station charging interest and penalty fees exorbitant.
“It is not illegal, but it is very immoral,” said Richard Cook, a former federal analyst and author, lives in College Park, Md.
“It is legalized loan sharking. It was one of the specialities of the Mafia. But this is an organized crime do not now, because it is legalized.”
Sioux Falls Mayor Dave Munson, worked 18 years at Citibank, calls that criticism unfair.
“The question,” How does a credit card companies, if they do not include costs to ensure that the affairs of a population. … Will they have the other extreme of the cut-off credit for people at high risk? “Munson said.” Is this not a moral issue, too?
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