You got that right, the crash pinched the banks' revenue, and not just from credit card holders. Some of the banks (IMO some were worse than others) massively increased abusive credit card practices to make up for the losses.
Will they really drive GOOD credit risks to competitors ?? Who would you want to lend money to? Someone who cant keep a job at 20% APR or someone who pays all his bills every month on time and has a house?
One would think that the credit card companies would adopt rational policies, but that is not always the case. For example, some of them made punitive adjustments to cardholders because they shopped at Walmart. I would think that would be a sign of cardholders' sound money management.
Let's see whether they stick new fees (or penalties not covered by the bill) on good faith cardholders. If they don't, you will be right. I'm just saying they might do that.
Back to the point. Should Republicans push popular and just causes, even when the plutocrat lobbies tell them not to? I say hell yes! However, most of them want the campaign help from those lobbies.
I was thinking competition. What may seem rational short term is irrational short term . They didnt get rid of fees because they love us.
RE “ For example, some of them made punitive adjustments to cardholders because they shopped at Walmart. I would think that would be a sign of cardholders’ sound money management. “
Do you have a link to this? I shop at Walmarts too and use my credit card for everything (another warning flag the TV said was bad) and my credit rating is in the top 90%. How would anyone know this?