“Banks can also drop riskier borrowers completely. In his letter to shareholders last spring, Jamie Dimon of J.P. Morgan Chase reported that, “In the future, we no longer will be offering credit cards to approximately 15% of the customers to whom we currently offer them. This is mostly because we deem them too risky in light of new regulations restricting our ability to make adjustments over time as the client’s risk profile changes.” Meet the new payday loan customers.” Read more.
“Dodd-Frank and the Return of the Loan Shark”
Todd Zywicki
Wall Street Journal, January 4, 2011.
Image by renjith krishnan / FreeDigitalPhotos.net.
