Credit Card PKG Duration: 1:45
[TAKE PKG
NAME: credit cards
OUTCUE: standard]
{***PKG***}
[CG :Std Lower 3rd\Credit Card Legislation\ATHENS, OH]
Banks in Athens may have to make changes in the way they do business due to legislation passed through Congress.
The bill would ban rate hikes unless a credit card consumer is more than 60 days late and make it harder for people under the age of 21 to get credit cards.
[TAKE SOT
NAME: Lipton credit 1
OUTCUE: secure
AT: 4:20
TO: 4:32
DURATION:0:12]
{***SOT FULL***}
[CG :Std Lower 3rd\Adam Lipton\PERSONAL BANKER, CHASE BANK]
<I don't think it will necessarily mean you can't get a card. There are measures going to be taken so that the financial responsibility of people in that age range are secure.>
One parent knows how hard it is for young people from personal experience.
[TAKE SOT
NAME: McCutcheon credit 1
AT: 14:47
TO: 15:03
DURATION:0:16]
{***SOT FULL***}
[CG :Std Lower 3rd\Angela McCutcheon\PARENT]
<I have a daughter who got caught up in a credit situation where the interest rate went very high when she missed her first payment and remained very high and it made it impossible for her to pay.>
Some students, however, are concerned that the bill will hurt people who pay their bills on time.
[TAKE SOT
NAME: Voit credit
AT: 8:11
TO: 8:29
DURATION:0:18]
{***SOT FULL***}
[CG :Std Lower 3rd\Kelsey Voit\OU STUDENT]
<if its in the long run going to hurt people who pay on time always and who are responsible ... Then I don't really go with it that much. If you can't afford to pay the minimum payment, then why do you have the credit card? You shouldn't have one in the first place.>
Lipton says banks need to be careful when lending money, but ultimately it shouldn't have too much of an affect on customers.
[TAKE SOT
NAME: Lipton credit 2
OUTCUE: customers
AT: 5:12
TO: 5:30
DURATION:0:18]
{***SOT FULL***}
[CG :Std Lower 3rd\Adam Lipton\PERSONAL BANKER, CHASE BANK]
<as we've seen, being loose with lending money can be a detriment to banks in general. that we can see from mortgage and sub prime issues in the past, but I don't think its in the banks interest to take credit away from customers>
Lipton says it's too soon to predict what banks might do, but he is sure they'll find a way to keep providing service to customers while making a profit.
Reporting with WOUB news in Athens, I'm Pat Henderson.
[TAKE PKG
NAME: credit cards
OUTCUE: standard]
{***PKG***}
[CG :Std Lower 3rd\Credit Card Legislation\ATHENS, OH]
Banks in Athens may have to make changes in the way they do business due to legislation passed through Congress.
The bill would ban rate hikes unless a credit card consumer is more than 60 days late and make it harder for people under the age of 21 to get credit cards.
[TAKE SOT
NAME: Lipton credit 1
OUTCUE: secure
AT: 4:20
TO: 4:32
DURATION:0:12]
{***SOT FULL***}
[CG :Std Lower 3rd\Adam Lipton\PERSONAL BANKER, CHASE BANK]
<I don't think it will necessarily mean you can't get a card. There are measures going to be taken so that the financial responsibility of people in that age range are secure.>
One parent knows how hard it is for young people from personal experience.
[TAKE SOT
NAME: McCutcheon credit 1
AT: 14:47
TO: 15:03
DURATION:0:16]
{***SOT FULL***}
[CG :Std Lower 3rd\Angela McCutcheon\PARENT]
<I have a daughter who got caught up in a credit situation where the interest rate went very high when she missed her first payment and remained very high and it made it impossible for her to pay.>
Some students, however, are concerned that the bill will hurt people who pay their bills on time.
[TAKE SOT
NAME: Voit credit
AT: 8:11
TO: 8:29
DURATION:0:18]
{***SOT FULL***}
[CG :Std Lower 3rd\Kelsey Voit\OU STUDENT]
<if its in the long run going to hurt people who pay on time always and who are responsible ... Then I don't really go with it that much. If you can't afford to pay the minimum payment, then why do you have the credit card? You shouldn't have one in the first place.>
Lipton says banks need to be careful when lending money, but ultimately it shouldn't have too much of an affect on customers.
[TAKE SOT
NAME: Lipton credit 2
OUTCUE: customers
AT: 5:12
TO: 5:30
DURATION:0:18]
{***SOT FULL***}
[CG :Std Lower 3rd\Adam Lipton\PERSONAL BANKER, CHASE BANK]
<as we've seen, being loose with lending money can be a detriment to banks in general. that we can see from mortgage and sub prime issues in the past, but I don't think its in the banks interest to take credit away from customers>
Lipton says it's too soon to predict what banks might do, but he is sure they'll find a way to keep providing service to customers while making a profit.
Reporting with WOUB news in Athens, I'm Pat Henderson.
