The phrase of the day at today’s Senate Banking Committee hearing was “tricks and traps.” In one form or another, that’s what every prepared statement and every question centered on: the tricks and traps used by the credit card companies. The senators–Republican and Democrat–used the term. The consumer representatives used the term. Even the industry people used it as they tried to make clear that their companies weren’t different from others in the industry.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1250495