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Illinois / Credit Card Interest Rates #314597

CBS Evening News for Wednesday, Feb 04, 1987
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(Studio: Bob Schieffer) Report introduced.

(Chicago, Illinois: Frank Currier) Illinois treasurer Jerry Cosentino reported canceling all state's credit cards with First National Bank in protest over credit card interest rates; details given, scenes shown. [PEOPLE - criticize rates paid.] [COSATINO - considers it loan sharking.] [Bank spokesperson Peter SORAPARU - defs. interest rate.] [Representative Charles SCHUMER - accuses banks of working together to keep interest rates high.] States taking action to regulate bank card industry indicated on map. [Fin. consultant Edward FURASH - notes implications for banks.]

Currier, Frank;
Schieffer, Bob

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