Charting a new course for the credit card industryCan the credit card industry institutionalize innovation? |
In just two short years, the fortunes of the credit card industry have changed dramatically. Record levels of defaults transformed the sector from one of the most profitable areas of lending to one of the least. Federal regulations related to credit business practices and the cost of borrowing have limited issuers’ ability to raise interest rates and fees.
The proposed Draft Code of Conduct for the Credit and Debit Card Industry in Canada (the “Voluntary Code of Conduct”) suggests more regulation is in the works for debit cards – a move that could affect many of the same players.
Read Charting a new course for the credit card industry to help better understand what this means to you and your business.
Charting a new course for the credit card industry
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