Summary
While we need to increase income, assets and basic safety nets in a way that addresses the current racial gaps, a cure for our financial woes requires fair and enforced regulation of the lending industry's business practices. It's on Congress' agenda, many hearings have been held, and there's hope good progress can be made. Recently, the Federal Reserve has proposed changes to protect cardholders from unreasonable changes in interest rates and overdraft repayments. It's all a step in the right direction. Let's hope candidates for office are getting an earful from strapped households. If you need any talking points, just ask my friend [Ricardo].
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Extract
The Debt That Divides Us
Five thousand dollars, minus $600: That's how much credit card debt my friend Ricardo has, now that he has applied his economic stimulus c...
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