Schumer Asks Fed to Limit Pitching of Business Cards
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Senator Charles Schumer, a New York Democrat, asked the Federal Reserve to look more closely at credit-card issuers pitching business cards to consumers, as the cards are exempt from provisions of the credit-card legislation.
“Credit-card companies are purposely hawking corporate cards to consumers who don’t own a business and may even be retired,” said Schumer in a statement today. “It is a dirty trick meant to get around the new credit-card law.”