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Should Retailers Verify Customer Income Before Extending Credit?

Should Retailers Verify Customer Income Before Extending Credit?

By cwalters December 7, 2009

One provision of the CARD Act requires credit issuers to verify income and debt load before issuing new credit, and the Federal Reserve is now looking at how to enforce that. That’s scaring retailers, who have come to enjoy the benefits of pushing “instant credit” offers at the register. [More]

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