Nick Wolney

And so we kind of have this culture that, I mean, not even just culture, it's just in terms of how people buy a house, how people buy a car, your credit score, it's very much your financial rating, you know, it's your track record. And so it's kind of difficult for us to divorce ourselves from credit card culture because of that.

And so we kind of have this culture that, I mean, not even just culture, it's just in terms of how people buy a house, how people buy a car, your credit score, it's very much your financial rating, you know, it's your track record. And so it's kind of difficult for us to divorce ourselves from credit card culture because of that.

And so we kind of have this culture that, I mean, not even just culture, it's just in terms of how people buy a house, how people buy a car, your credit score, it's very much your financial rating, you know, it's your track record. And so it's kind of difficult for us to divorce ourselves from credit card culture because of that.

Well, and last year I spoke to a financial educator who teaches classes in high schools, teaches financial literacy classes in high schools. And something she pointed out, she said this happens in every single class. Kids will – well, they won't raise their hand in the class. They'll come up to her afterwards, you know. And they'll say, you know, my parents gave me this credit card.

Well, and last year I spoke to a financial educator who teaches classes in high schools, teaches financial literacy classes in high schools. And something she pointed out, she said this happens in every single class. Kids will – well, they won't raise their hand in the class. They'll come up to her afterwards, you know. And they'll say, you know, my parents gave me this credit card.

Well, and last year I spoke to a financial educator who teaches classes in high schools, teaches financial literacy classes in high schools. And something she pointed out, she said this happens in every single class. Kids will – well, they won't raise their hand in the class. They'll come up to her afterwards, you know. And they'll say, you know, my parents gave me this credit card.

And it's just – It feels like it's just like free money, you know, and it's like, oh, you know, so the parent, it feels like they're doing a good job in terms of opening up a credit card and helping their child with their credit history. But for many of those kids, they don't understand why they have the credit card and they don't understand how to use it.

And it's just – It feels like it's just like free money, you know, and it's like, oh, you know, so the parent, it feels like they're doing a good job in terms of opening up a credit card and helping their child with their credit history. But for many of those kids, they don't understand why they have the credit card and they don't understand how to use it.

And it's just – It feels like it's just like free money, you know, and it's like, oh, you know, so the parent, it feels like they're doing a good job in terms of opening up a credit card and helping their child with their credit history. But for many of those kids, they don't understand why they have the credit card and they don't understand how to use it.

And, you know, I would assert that young people are perhaps more impulsive, you know, at times as they start to come into adulthood and things like that. And so just having that financial literacy piece in place, you know, is really, really important.

And, you know, I would assert that young people are perhaps more impulsive, you know, at times as they start to come into adulthood and things like that. And so just having that financial literacy piece in place, you know, is really, really important.

And, you know, I would assert that young people are perhaps more impulsive, you know, at times as they start to come into adulthood and things like that. And so just having that financial literacy piece in place, you know, is really, really important.

there was and it did ease some of the burden uh but you know when you're 100 feet down the rabbit hole and you get a law that gets passed and you know you come 10 feet back up you're still quite far down the rabbit hole the card act credit card accountability responsibility and disclosure that was in 2009 statements will be required to tell credit card holders how long it will take to pay off a balance

there was and it did ease some of the burden uh but you know when you're 100 feet down the rabbit hole and you get a law that gets passed and you know you come 10 feet back up you're still quite far down the rabbit hole the card act credit card accountability responsibility and disclosure that was in 2009 statements will be required to tell credit card holders how long it will take to pay off a balance

there was and it did ease some of the burden uh but you know when you're 100 feet down the rabbit hole and you get a law that gets passed and you know you come 10 feet back up you're still quite far down the rabbit hole the card act credit card accountability responsibility and disclosure that was in 2009 statements will be required to tell credit card holders how long it will take to pay off a balance

It limited excessive marketing to young adults. There was a lot of marketing towards college students who might be more susceptible to getting a credit card before they have a fully robust financial education, financial literacy. So it did make a little bit of a dent, but unfortunately, we're dealing with quite a large boulder here. And so there's more work to be done, certainly.

It limited excessive marketing to young adults. There was a lot of marketing towards college students who might be more susceptible to getting a credit card before they have a fully robust financial education, financial literacy. So it did make a little bit of a dent, but unfortunately, we're dealing with quite a large boulder here. And so there's more work to be done, certainly.

It limited excessive marketing to young adults. There was a lot of marketing towards college students who might be more susceptible to getting a credit card before they have a fully robust financial education, financial literacy. So it did make a little bit of a dent, but unfortunately, we're dealing with quite a large boulder here. And so there's more work to be done, certainly.

Regulations have loosened on credit card interest rates, and there are a few reasons why. So some history here. There was a Supreme Court opinion that came out in 1978, Marquette National Bank versus First of Omaha Corp. And this opinion allowed national banks to be governed by the usury laws of the state that they are headquartered.

Regulations have loosened on credit card interest rates, and there are a few reasons why. So some history here. There was a Supreme Court opinion that came out in 1978, Marquette National Bank versus First of Omaha Corp. And this opinion allowed national banks to be governed by the usury laws of the state that they are headquartered.