Bank executives told audiences at recent industry events that pending credit card rules and current economic stress have forced lenders to reinvent themselves. Capital One CFO Gary Perlin told a New York audience that he expected many credit card issuers to restructure their fees. Meanwhile, James Dimon of J.P. Morgan Chase & Co. told attendees at another conference that tighter lending practices would stem further credit card losses.
June 8, 2009
Credit Card Industry Leaders Hint of Upcoming Fee and Lending Changes
About Joe Taylor Jr.Joe Taylor Jr. has covered personal finance and the music business for over two decades. His work has been featured on NPR, CNBC, Financial Times Television, Fox Business, and ABC News. Previously, Joe worked as a marketing and customer service training advisor for three of the country's leading consumer lenders. He recently completed a personal finance book entitled The Rogue Guide to Credit Cards; (Rogue Guide Books, 2012). When not writing about business, Joe serves as a business sales manager for a Fortune 500 technology company.
