10 Questions
What was the primary funding source for the program mentioned in the text?
The John D. and Catherine T. MacArthur Foundation
What is the main focus of the program mentioned in the text?
Building a more just, verdant and peaceful world
What is the primary reason cited for the lack of credit card legislation to control abusive practices?
The credit card industry's lobbying power
What role did credit card debt play in the economic meltdown?
It contributed to the housing bubble
What is the time frame mentioned in the text regarding the credit card industry's practices?
The past 30 years
What was Providian's business strategy?
Providing credit cards to high-risk borrowers who were previously denied credit
What was Providian's motivation for targeting high-risk borrowers?
To generate higher profits by charging higher interest rates and fees to riskier customers
How did Providian's strategy impact its reputation?
Providian faced criticism for its predatory lending practices and excessive fees
What was the annual profit figure mentioned for Providian?
Over $1 billion before taxes
How did Providian's marketing portray its credit card offerings?
As a way for customers to access credit and an affluent lifestyle
Explore a summary of a Frontline episode discussing the relationship between Americans and banks over the past 30 years. Discover how banks have influenced consumer transactions and financial terms.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
