As credit card companies face rising public anger, new regulation from Washington and a potential perfect storm of economic bad news, FRONTLINE correspondent Lowell Bergman examines the future of the massive consumer loan industry and its impact on a fragile national economy.
In a joint project with The New York Times — a follow-up to the “Secret History of the Credit Card” — Bergman and the Times talk to industry insiders, lobbyists, politicians and consumer advocates as they square-off over new regulation and the possible creation of a consumer finance protection agency. How are the credit, debit and pre-paid card industries repositioning themselves to maintain high profits under the new rules? The stakes couldn’t be higher as many fear the consumer loan industry could be at the center of the next crisis.
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