• Banking,  Credit Cards,  Financial Regulation

    What’s happening with consumer financial protection around the world

    In the United States, there hasn’t been much positive policy action on consumer financial protection recently, at least not at the federal level. But regulators and policy-makers in the United Kingdom, Australia and Singapore have been trying a range of solutions, some incremental and some radical, to make life better for borrowers in their countries. You can read more in my post for the Duke Global Financial Markets Center’s FinReg blog.

  • Banking,  Credit Cards

    “I’m not falling for your tricks” and other mixed reactions to credit limit increases

    All it takes is a quick search on Twitter to see that credit limit increases drive incredibly strong and oftentimes mixed emotional reactions for Americans. To clarify, when I say ‘credit limit increase’ here, I’m talking about when a credit card issuer raises the limit of how much a customer is able to spend or borrow. In theory, having access to more credit — that you’re under no obligation to use — seems like it would be a strictly good thing. It’s there if you need it, and if you don’t use your higher credit limit, your credit score will typically go up (this article explains why). But clearly, many…

  • Banking

    From Occupy to a Credit Card Company, and now what?

    I think there were about a dozen of us who slept outside with Occupy Duke in  October and November of 2011.  It was unseasonably cold and wet, and while Duke students in theory love to sleep in tents , protesting inequality and imagining new economic orders wasn’t high on the student body’s priority list. It was clear to me then, as it is clear to me now, that banking has done so much to build prosperity for some nations and some people, and has either done nothing or backfired for other nations and other people. So why, two years after Occupy did I go work for a credit card company, and…