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Regulation, Competition and Risk in the Market for Credit Cards

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  • Barry Scholnick

Abstract

Contrasting proposals have recently emerged concerning the need to regulate the Canadian credit card market. The National Liberal Caucus Task Force on Financial Services recommended that interest-rate ceilings be imposed on credit cards in Canada, while the MacKay Commission on Financial Services described the credit card industry as being subject to increased competition, and did not recommend any such regulations. Based on evidence provided here on card providers, card consumers, and the changing nature of the credit card market, it is argued that ceilings are not the appropriate regulatory response.

Suggested Citation

  • Barry Scholnick, 2000. "Regulation, Competition and Risk in the Market for Credit Cards," Canadian Public Policy, University of Toronto Press, vol. 26(2), pages 171-181, June.
  • Handle: RePEc:cpp:issued:v:26:y:2000:i:2:p:171-181
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    References listed on IDEAS

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    1. Glenn B. Canner & Charles A. Luckett, 1992. "Developments in the pricing of credit card services," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Sep, pages 652-666.
    2. Brito, Dagobert L & Hartley, Peter R, 1995. "Consumer Rationality and Credit Cards," Journal of Political Economy, University of Chicago Press, vol. 103(2), pages 400-433, April.
    3. Ausubel, Lawrence M, 1991. "The Failure of Competition in the Credit Card Market," American Economic Review, American Economic Association, vol. 81(1), pages 50-81, March.
    4. Andrea Meyercord, 1994. "Recent trends in the profitability of credit card banks," Quarterly Review, Federal Reserve Bank of New York, issue Sum, pages 107-111.
    5. Glenn B. Canner & James T. Fergus, 1987. "The economic effects of proposed ceilings on credit card interest rates," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Jan, pages 1-13.
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    Cited by:

    1. Igor Livshits & James MacGee & Michèle Tertilt, 2010. "Accounting for the Rise in Consumer Bankruptcies," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(2), pages 165-193, April.

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