Topic
Secret History of the Credit Card (01 to 04)
Instructions
http://www.pbs.org/wgbh/frontline/film/showscredit/http://www.pbs.org/wgbh/frontline/film/creditcards/
Answer preview
This video discusses the history of the credit card industry, before divulging how credit companies were transformed into multi-billion corporations through the implementation of lending procedures that were first proposed by the former CEO of Providential Financial Corporation, Shailesh Mehta. The main issue, as revealed in this video, has to do with the lack of regulation for the US financial services industry. It is this lack of regulation which creates the circumstances in which credit card companies set unfairly high interest rates.
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