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Regulation, Competition and Risk in the Market for Credit Cards

  • Barry Scholnick
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    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.

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    File URL: http://links.jstor.org/sici?sici=0317-0861%28200006%2926%3A2%3C171%3ARCARIT%3E2.0.CO%3B2-P
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    Article provided by University of Toronto Press in its journal Canadian Public Policy.

    Volume (Year): 26 (2000)
    Issue (Month): 2 (June)
    Pages: 171-181

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    Handle: RePEc:cpp:issued:v:26:y:2000:i:2:p:171-181
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    1. 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.
    2. 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.
    3. 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.
    4. 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.
    5. 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.
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