PDF《BEYOND》

999 4. Returned-Payment Fees

999 E. Credit Card Issuers'

Revenues and Profits.999 F. Summary and Implications

1001 III. BEYOND THE CARD ACT: PROPOSALS FOR IMPROVED CREDIT CARD REGULATION.1001 A. Disclosure.1002 1. Traditional Disclosures.1003 2. Steps in the Right Direction.1003 3. Continuing in Stride

1004 B. Targeting Teasers

1005 1. The Trouble with Teasers.1005 2. The Risk of Unintended Consequences.1007 a. Paying Customers to Switch

1008 b. Asymmetric Information About Product Quality.1009 3. Taming Teasers

1010 APPENDIX

1 1012 a. Perfect Competition

1012 b. Monopoly

1013 c. Perfect Competition vs. Monopoly

1016 APPENDIX

2 1017 BAR-GILL FINAL READ 6/26/2012 11:24 AM 2012] CREDIT CARD PRICING

969 INTRODUCTION Credit card contracts have come under increased public and political scrutiny. This scrutiny culminated in the passage, by an overwhelming bipartisan majority, of the Credit Card Accountability, Responsibility, and Disclosure Act of

2009 (the CARD Act)1 and in the creation, as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of

2010 (the Dodd-Frank Act),2 of the Consumer Financial Protection Bureau (CFPB).3 One of the main concerns motivating this landmark legal reform was the pricing structure used by many credit card issuers. Specifically, credit card contracts commonly lure consumers with ........