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What are the advantages and disadvantages of the

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What are the likely effects on consumers and the credit card industry? What are the advantages and disadvantages of the reform? Who will benefit and who will be harmed?
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GREEN: Briefly describe the history of the credit card. When was it developed? Why? By whom? What regulatory environment was necessary for credit cards to succeed on a mass scale? What are common techniques used by credit card companies to increase their profits at the expense of customers? What credit card abuses can be found on college campuses? What recent legislation was passed ny New York State to control campus credit card abuses? (HINT: See Frontline, The Secret History of the Credit Card.) ORANGE: Contact local rent-to-own centers and inquire about their rental policies. Do they rent to students? Are there any additional fees besides the periodic payments? What is the frequency of payments? What happens if a payment is late? Choose an item such as a color television. What are the terms? How do the total payments for the television compare to the price of a similar television at a discount department store? What is the implied rate of interest paid for the television purchased from the rent-to-own center? Are rent-to-own centers a form of predatory lending? VIOLET: Describe micro-lending (or micro-finance) and the role of the Bank of Grameen. How does micro-lending provide a model for community development? How does it help low- income people? How has this model spread throughout the US and the world in recent years? Have the Bush and Obama Administrations supported micro-finance?
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