With Progressives, it Never, Ever Ends

I'd say you're not going to believe this. But you will:

Now Congress is moving to limit the penalties on riskier borrowers, who have become a prime source of billions of dollars in fee revenue for the industry. And to make up for lost income, the card companies are going after those people with sterling credit.

Banks are expected to look at reviving annual fees, curtailing cash-back and other rewards programs and charging interest immediately on a purchase instead of allowing a grace period of weeks, according to bank officials and trade groups.

“It will be a different business,” said Edward L. Yingling, the chief executive of the American Bankers Association, which has been lobbying Congress for more lenient legislation on behalf of the nation’s biggest banks. “Those that manage their credit well will in some degree subsidize those that have credit problems.”

Read the whole story here.

It may just be one of those "scare" stories that gets everyone upset...so when the social justice criminals commit an apparently less egregious felony, we find ourselves relieved...and forget to get outraged.

Of course, it may be exactly true. Watch your statements.

Bartertown.

Seriously.

Aunty Entity