Arguments for or against S. 192, anti-predatory lending act.
Not what you're looking for?
I need some help getting started with the following:
1. You are the legislative assistant to either U.S. Senator Bob Corker or a newly re-elected Al Gore, Jr. (your choice). Your boss has recently sent you a memo, asking your opinion on Senate Bill 192, also known as the Anti-Predatory Lending Act of 2011. This bill would prohibit banks from raising the interest rate they originally gave to a customer on any credit card for any reason. After S. 192 becomes law, if a bank no longer desires to offer a customer a credit card at the initially agreed-upon rate, the bank's only recourse would be to close the costumer's account, and then send that customer an offer for a new credit card at a higher interest rate.
2. Write a memo to your boss either in favor of or against S. 192. Make sure your memo includes a discussion of the laws that currently protect credit card customers, and whether or not you believe that these existing laws are sufficiently effective.
Purchase this Solution
Solution Summary
1. You are the legislative assistant to either U.S. Senator Bob Corker or a newly re-elected Al Gore, Jr. (your choice). Your boss has recently sent you a memo, asking your opinion on Senate Bill 192, also known as the Anti-Predatory Lending Act of 2011. This bill would prohibit banks from raising the interest rate they originally gave to a customer on any credit card for any reason. After S. 192 becomes law, if a bank no longer desires to offer a customer a credit card at the initially agreed-upon rate, the bank's only recourse would be to close the costumer's account, and then send that customer an offer for a new credit card at a higher interest rate.
2. Write a memo to your boss either in favor of or against S. 192. Make sure your memo includes a discussion of the laws that currently protect credit card customers, and whether or not you believe that these existing laws are sufficiently effective.
Solution Preview
1 -
This is really for the benefit of the consumer to protect the consumers against banks that use illegal predatory practices. The bill should be enacted and strictly enforced, in my opinion. This prevents a consumer from getting a mortgage or credit card and then prevents the banks from continually raising the interest rates, making it impossible for ...
Purchase this Solution
Free BrainMass Quizzes
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
Team Development Strategies
This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.