For longtime readers of my Emails and this blog, you know that I absolutely despise government regulations. Written by nameless, faceless bureaucrats, they mangle the lives of businesses, and, sometimes us – the real people.
This is just such a case. Driven by Dodd-Frank (et.al.) the treasury issued new regulations on credit card companies that were intended to insure that all borrowers issued cards would have to be proven to have the means to repay. Sounds good until it comes back via unintended consequences to bite the very population it was “intended” to help.
Heritage does a better job of explaining that I can. Read here, please.
Folks. November will be here before you know it. These people have to go away – far, far away. Get involved. Get active. If you don’t know how to do that, reply/comment, and I will get back to you.