Reported about 21 hours ago
In an interview, Rohit Chopra, Director of the Consumer Financial Protection Bureau, expressed concerns over the credit card industry's troubling practices, highlighting increased margins at the expense of consumers and suggesting regulations to combat these excesses. He also discussed the issue of high interest rates and the proliferation of retail credit cards, stressing the need for transparency and potential interest rate caps to protect consumers from falling into a 'treadmill of debt'.
Source: YAHOO