Queen's University

Credit Card Regulations

2010-03-19

Queen’s Economics Professor Roger Ware is available to explain why the new credit card regulations may do more harm than good.
He states that essentially the new regulations tinker with “cosmetic” dimensions of credit card contracts, such as the way statements are formatted, and even grace periods, in a way that interferes with the marketplace but not in response to a clear need for regulatory intervention. There is little or no evidence that increased regulation of the credit card industry will lead to better outcomes for consumers in the long run. Government initiatives to promote financial literacy would likely be a better form of regulatory intervention.
Roger WareProfessor of EconomicsEmail: ware@qed.econ.queensu.caProfessor Ware’s research includes economic analysis of regulatory issues.
To arrange an interview, please contact Jeff Drake at 613.533.2877 jeff.drake@queensu.ca or Stephanie Earp at 613.533.6000 ext. 79173 stephanie.earp@queensu.ca, News and Media Services, Queen’s University.

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