Credit Card Companies Want To Keep You In Debt Forever
Today on Lever Time, we dive into the heart of Capital One and hear from a former employee about the credit card titan’s tactics to keep customers forever submerged in debt. When President Joe Biden moved to cap credit card late fees in March, the financial industry revolted — filing multiple lawsuits against the administration of a man once dubbed one of the banking industry’s favorite senators. Why are the credit card giants so threatened by losing their junk fees? How exactly have they assumed so much control of our financial lives? In today’s episode of Lever Time, David Sirota and Arjun Singh go deep into the heart of the credit card industry and its lobbying army to hear how the industry has muscled its way into people’s wallets.