Dress Barn (DBRN), Home Depot (HD) and other retailers urge the Fed to drop a proposal that...


Dress Barn (DBRN), Home Depot (HD) and other retailers urge the Fed to drop a proposal that would require credit card issuers to consider only a borrower's "independent" income rather than household income. They say the new standard could make it difficult for some customers, especially stay-at-home moms, to get credit quickly.

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Comments (2)
  • wyostocks
    , contributor
    Comments (9113) | Send Message
     
    Another example of the law of unintended counsequences that the government morons never take into consideration. When will they ever think things through first?
    31 Dec 2010, 10:31 AM Reply Like
  • kmi
    , contributor
    Comments (4579) | Send Message
     
    Meh I'd rather have the credit unworthy not get credit. I'd guess we'd have less problems floating through the financial system, less buying on credit (i.e. money not yet earned) and potentially better terms on what cards do get issued.

     

    I suspect the counter argument would be that freebies to good borrowers (miles, points etc) are funded by fees assessed against bad borrowers, but I'd suggest the flip side is, less losses to credit issuers mean lower cost of doing business.

     

    Stay at home moms can still use debit cards...
    31 Dec 2010, 01:43 PM Reply Like
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