videos

The final installment of our 4-part interview on credit card reform with Austan Goolsbee, President Obama’s senior economic adviser. In this one we say, hey, what about mandatory binding arbitration?

Are credit cards set up like a horrible game of Chutes & Ladders that plays for keeps? In the 3nd of our 4-part interview series with President Obama’s Senior Economic Adviser, Austan Goolsbee, on credit card reform, we ask why credit card companies can raise the APR on stuff you already charged, and go into some of the credit card companies’ anti-consumer tricks like liquid and fickle terms and conditions, penalty fees that aren’t trying to discourage behavior anymore, they’re just pure profit, and teeny-tiny contracts written in “Bank-o-nese.”

We took your credit card reform questions to DC yesterday and interviewed Austan Goolsbee, senior economic adviser to President Obama. In part 1 of our 4-part series, we ask how are banks getting billions in bailouts and can turn around and cut off millions of credit cards and raise rates? How does it make sense that credit card companies can raise the interest rate on an existing balance? And, most importantly, why don’t we treat credit cards more like Canadians do cigarettes?

We took your credit card reform questions to DC yesterday and interviewed Austan Goolsbee, senior economic adviser to President Obama. In part 1 of our 4-part series, we ask how are banks getting billions in bailouts and can turn around and cut off millions of credit cards and raise rates? How does it make sense that credit card companies can raise the interest rate on an existing balance? And, most importantly, why don’t we treat credit cards more like Canadians do cigarettes?