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010 _a 2023947803
020 _a9780300247343
_q(hardcover : alk. paper)
020 _a0300247346
_q(hardcover : alk. paper)
035 _a23341057
035 _a(OCoLC)1419790256
040 _aYDX
_beng
_erda
_cYDX
_dOCLCO
_dBDX
_dYUS
_dOCLCO
_dPSC
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041 _aeng
042 _apcc
043 _an-us---
050 0 0 _aHG3756.U54
_bV363 2024
100 1 _aVanatta, Sean H.,
_942974
245 1 0 _aPlastic capitalism :
_bbanks, credit cards, and the end of financial control /
_cSean H. Vanatta.
264 1 _aNew Haven :
_bYale University Press,
_c[2024]
264 4 _c©2024
300 _axvii, 393 pages :
_billustrations, map ;
_c24 cm
336 _atext
_btxt
_2rdacontent
337 _aunmediated
_bn
_2rdamedia
338 _avolume
_bnc
_2rdacarrier
504 _aIncludes bibliographical references (pages 299-362) and index.
505 0 _aPreface: Buying time -- Introduction -- The New Deal regulatory order -- Charge account banking -- Profits squeeze -- Deluge -- Regulating revolving credit -- Confronting cards in Congress -- Risk shifting -- The Marquette decision -- Profits anywhere -- Credit control -- Breakdown.
520 _a"American households are awash in expensive credit card debt. But where did all this debt come from? In this history of the rise of postwar American finance, Sean H. Vanatta shows how bankers created our credit card economy and, with it, the indebted nation we know today. America's consumer debt machine was not inevitable. In the years after World War II, state and federal regulations ensured that many Americans enjoyed safe banks and inexpensive credit. Bankers, though, grew restless amid restrictive rules that made profits scarce. They experimented with new services and new technologies. They settled on credit cards, and in the 1960s mailed out reams of high-interest plastic to build a debt industry from scratch. In the 1960s and '70s consumers fought back, using federal and state policy to make credit cards safer and more affordable. But bankers found ways to work around local rules. Beginning in 1980, Citibank and its peers relocated their card plans to South Dakota and Delaware, states with the weakest consumer regulations, creating 'on-shore' financial havens and drawing consumers into an exploitative credit economy over which they had little control. We live in the world these bankers made"--
_cProvided by publisher.
650 0 _aConsumer credit
_zUnited States.
650 0 _aCredit cards
_zUnited States.
650 0 _aFinancial services industry
_zUnited States.
650 6 _aCrédit à la consommation
_zÉtats-Unis.
650 6 _aCartes de crédit
_zÉtats-Unis.
650 6 _aServices financiers
_zÉtats-Unis.
906 _a7
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942 _2lcc
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946 _iLLH
999 _c124014
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