Elizabeth Warren On The Rising Cost Of Credit Debt
Second in a two-part series.
Bankruptcy expert Elizabeth Warren returns to Fresh Air to talk about how and why credit-card debt is becoming more costly due to increased fees and interest rates. Yesterday, Warren discussed credit reports and the importance of maintaining a high credit rating.
Warren is a professor at Harvard Law School, where she specializes in bankruptcy and contract law. She has appeared before the Senate Banking Committee to discuss the abusive lending practices by credit card companies. Warren considers the interest charges and late fees imposed by credit card companies to be a hidden tax on cardholders.
Warren has also written extensively on money management for middle-class families. She is the author of The Two-Income Trap: Why Middle Class Mothers and Fathers Are Going Broke and co-author of All Your Worth: The Ultimate Lifetime Money Plan, which she wrote with her daughter.
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