Analysts weigh credit card impact of Biden VP bid
By Kevin Drawbaugh
DENVER, Aug 29 (Reuters) - Credit card industry analysts are wary of the sector's regulatory outlook if Barack Obama, a harsh critic of their business, becomes U.S. president with their longtime ally Joe Biden as vice president.
Sen. Biden represents Delaware, where many credit card companies are based because of the state's liberal interest laws and low taxes. Democrats formally nominated Obama and Biden in Denver this week.
After the Nov. 4 elections, some Senate Democrats are expected to resume a push to limit credit card fees, and possibly to reform consumer bankruptcy law... (cont...)
http://www.reuters.com/article/fundsFundsNews/idUSN2832742820080829
By Kevin Drawbaugh
DENVER, Aug 29 (Reuters) - Credit card industry analysts are wary of the sector's regulatory outlook if Barack Obama, a harsh critic of their business, becomes U.S. president with their longtime ally Joe Biden as vice president.
Sen. Biden represents Delaware, where many credit card companies are based because of the state's liberal interest laws and low taxes. Democrats formally nominated Obama and Biden in Denver this week.
After the Nov. 4 elections, some Senate Democrats are expected to resume a push to limit credit card fees, and possibly to reform consumer bankruptcy law... (cont...)
http://www.reuters.com/article/fundsFundsNews/idUSN2832742820080829