– Fed: Credit companies admit profiling credit card users

Is it profiling?

Members of Congress, led by Rep. Maxine Waters of California, were concerned after reports surfaced in 2009 about credit cardholders whose credit limits were reduced and interest rates jacked up because they began to shop at discount stores. Other consumers complained they may have been hit with less favorable credit terms based on where they lived. Waters, who was not available for comment on the new Fed report, suggested last year the practices might be a form of “profiling,” targeting certain groups for different treatment.

via – Fed: Credit companies admit profiling credit card users.


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