Banks Don’t Intentionally Overcharge Credit Card Customers…Or Do They?

Consumer credit cards and many other forms of consumer finance are not negotiated in fair and free markets because they aren’t negotiated at all.  Consumers have a take it or leave it choice and since most consumer don’t understand the terms of their contract the choice of take it or leave it isn’t even a real choice.  Economists and regulators shouldn’t pretend that the invisible hand of market discipline will fix anything.

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