From a release sent by Demos, a public policy group that’s written a lot about credit card debt:

Today brought some good news on the credit card crisis in the US: CitiGroup announced that they would end their ‘universal default’ practice, which increases rates for card holders when they default on other debts. They are also putting an end to their practice of increasing interest rates ‘any time, for any reason.’ Overall, these developments are positive, and we applaud CitiGroup for taking these steps. Other credit card issuers should follow suit and immediately stop these practices.”

I wonder if it has anything to do with the impending wide release of Maxed Out, a provocative movie which drags credit card companies through the mud for 90 minutes.

This entry was posted on Thursday, March 1st, 2007 at 5:07 pm and is filed under credit. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.