The Secret History of Credit Card Assignment
Answer the following questions:
- What is the main purpose of a usury law? Be specific.
- Why did South Dakota decide to eliminate its cap on interest rates?
- Why were the usury laws strangling the banking industry? Be specific.
- Why did Citibank move to South Dakota?
- In the Citibank example, how did Citi use existing laws to alter its business mode?
- What was the underlying basis of the Marquette Bank decision?
Use this Reference to answer the questions: FRONTLINE. (2004). Secret History of the Credit Card [Motion Picture]. Retrieved from https://www.pbs.org/wgbh/frontline/film/showscredit/