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MOB #41 – Lotteries, Savings & Congressional Credit Card Bills

August 6th, 2008 · podcasts

Gas Price Update: $4.179

In today’s show we first discuss how much the average person spends on lottery tickets according to a study by Peter Tufano, et al. This is taken from an article from Money Magazine.

This horrifyingly huge number led us to check out the current personal savings rate in the United States at economicindicators.gov and the Bureau of Economic Analysis. While personal savings are up for the month of May, things overall aren’t looking great.

With the economic issues impacting the United States, we take a look at a couple of articles that cover some bills that Congress is considering to address the nation’s concerns. The first article from money.cnn.com covers the Credit Card Fair Fee Act which addresses credit card interchange fees. We talk about whether or not the proposed bill would help you at all. Hint: Not likely.

The second article, also from money.cnn.com, is about a Credit Card Bill of Rights that is working its way through congressional committee. It addresses some unfair practices that credit card companies perpetrate when they have a customer at their mercy. Will this one help? Hint: Hopefully.

There’s no feedback for this week, so we’re looking for some for the following week. The more we can get people involved, the more we can make this show what everyone is looking for. If you’re listening in a country other than the United States, let us know what concerns you, so that we can address international concerns. We want this show to be for everyone. Talk to you all, next week!

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