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Economy: Credit Cards #790215

ABC Evening News for Tuesday, May 17, 2005
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(Studio: Charles Gibson) Report introduced.

(Washington: Lisa Stark) Congressional criticism of the credit card industry & their lending practices examined; details given about the controversial practice of universal default, aggressive marketing, escalating late fees etc.; scenes shown from the hearings in Congress. [Consumer Janet SAXNER†- expresses shock at her credit card interest rate hike.] [JPMorgan Chase Carter FRANKE†- defends practices.] [Senator Christopher DODD - offers criticism.] [Consumer Action Linda SHERRY†- speaks out against fee practices.] The reasons why credit card practices will not change discussed.

Reporter(s):
Gibson, Charles;
Stark, Lisa
Duration:
00:03:10

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