VT Edition Interview: Peter Welch & Karen Gross on unfair credit card industry practices
Tuesday March 25, 2008
Jane Lindholm
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Debt counselors around the region say they're seeing an increasing number of people with credit card interest rates exceeding 30% and balances they can't possibly pay. Congressman Peter Welch says he's been getting an earful from Vermont consumers and retailers who are fed up with what he calls "unfair bait-and-switch practices" by the credit card industry. Welch supports a Credit Cardholders' Bill of Rights, which seeks to protect consumers from predatory credit card practices. He joins VPR's Jane Lindholm along with consumer finance expert Karen Gross, the president of Bennington's Southern Vermont College, to talk about how consumers can protect themselves and how the system could become more balanced and transparent.
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