Word: bankcard
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Dates: during 1980-1989
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Consumer groups, however, were not ready to applaud. "That's a good first step, but they haven't gone far enough," said Marla Kaplan, associate director of Bankcard Holders of America, a consumer advice service that claims some 100,000 members. "It's time rates came down still farther." Alan Fox, chief lobbyist for the Consumer Federation of America, said cardholders could save $500 million a year if the average credit rate dropped to 17.1%. A recent federation study estimated that consumers spend a whopping $6 billion a year in interest on purchases made with bank cards...
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