Biz, Politics: A quickie defense of credit card companies facing regulation
- After everything is taken into account, a rigorous, highly tested credit recommendation pops out of their risk management engine. They literally have math and statistics PhDs who are in charge of this stuff. Congress seeks to prevent such complex analysis.
- The Atlantic columnist Daniel Indiviglio • On the reasons credit card companies policies often lean towards predatory practices, and why Congress’ plan to kill those practices is no good. Indiviglio says that the unintended consequence of the the legislation currently going through Congress is that it will leave fewer people with credit. May we make the argument that this might actually be a good thing? • source