TOTM

The CFPB’s Misleading Slant on Competition in Credit-Card Markets

In yet another example of interagency cheerleading from the Federal Trade Commission (FTC), Chair Lina Khan recently touted the work of the Consumer Financial Protection Bureau (CFPB) on payments networks:

New @CFPB research reveals that large banks are offering worse credit card terms & interest rates than small banks and credit unions, regardless of credit risk. For an average cardholder, the difference can amount to $400-$500 in additional interest/year.https://t.co/gsliqy1ohn

— Lina Khan (@linakhanFTC) February 20, 2024

Read the full piece here.