iStock Analyst: Banks marketing debt in questionable times
October 22, 2008
AFFIL appeared in this article on October 22, 2008
U.S. data mining companies are helping banks target credit card customers even if the cards are not in the customers best interest, a consumer advocate said.[...]
“They get people who they know are in trouble, they know are desperate, and they aggressively market a product to them which is not in their best interest,” said Jim Campen, executive director of the Americans for Fairness in Lending told the Times.
“It’s the wrong product at the wrong time,” he said.