9/2/2010

Sen. Charles Schumer, D-N.Y., has asked Federal Reserve Chairman Ben Bernanke for a probe into the marketing practices of companies that issue corporate credit cards. Mr. Schumer wrote to Mr. Bernanke that he is concerned that it is too easy for consumers to obtain the corporate credit cards. "I believe that credit card issuers are exploiting this distinction in order to evade the tougher regulations passed by Congress and preserve their ability to profit from unfair and excessive fees," Mr. Schumer wrote.

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