Final Paper - 2. Recent economic concerns prompted...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
2. Recent economic concerns prompted President Obama to meet with credit card industry executives in April, 2009. The national credit card delinquency rate has continued to grow in recent times, and the President, along with Congress, aims to end unfair fees and increases in interest rates. In addition, the President asked that all terms, disclosures, and statements be clear and easy to read for consumers. Confusing terms, often laid out in fine print, are believed to have led to the nation’s rising debt and delinquency. 5. Avoiding and managing debt is hard. Things cost so much money that it’s hard not to spend more than you make. The bills pile up, the utilities cost a lot, and going to the grocery store is expensive too. Then once those bills are paid, someone in the family gets hurt and needs to go the doctor or an unexpected bill comes in like car tags or something. We are told to just use cash and not use credit cards to help stay out of debt. Who’s going to pay those extra monthly bills if it’s not the credit cards? Avoiding and managing debit
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/27/2011 for the course COM/155 COM/155 taught by Professor Michellehoneycutt during the Fall '10 term at University of Phoenix.

Page1 / 2

Final Paper - 2. Recent economic concerns prompted...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online