Bank of America CEO says the market "will punish people if we don't have an independent Fed"

[BumRushDaShow]

8. And those banks (that run the credit cards)

benefit massively when that discount DOESN'T get passed down to the consumer except perhaps as something that is an "Introductory Offer" if someone moves a balance from their existing card to that "Intro offer" card, and then it usually reverts back to that near-fixed "high rate" after some "tiny print" number of months later.

So you'll see stuff like this - Fact brief: Is South Dakota one of the friendliest states for credit card companies?

Where SD became a place where a number of companies moved to.