politics, random

How Human readable Contracts will Destroy Innovative Credit Card Companies

I found this in a CNN article “A push to simplify credit card ‘gobbledygook’” referring to the push for the government to force credit card companies to simplify contracts so that are human readable.

But the industry is fighting the reforms. The American Bankers Association and the U.S. Chamber of Commerce argue that they’ll stifle innovation and limit consumer choice.

I wasn’t aware that there was an innovation among the credit card companies. Unless “innovation” means new sneaky ways to bilk people out of money.