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Resource ID: #16346
Subject: Consumer Affairs
Source: WFAA-TV (Dallas)
Affiliation: 
Date: April 7-8; May 5-6, 26; July 14; Aug. 25, 31; Dec. 17, 20-21, 1999

$0.00

Description

WFAA-TV reports about "gross corporate dishonesty, a federal investigation, the abrupt resignation of 3 CEOs from two of the largest financial institutions in America, and perhaps billions of dollars wrongly taken from millions of credit-card consumers... At one time, First USA bragged it was the largest credit-card company in the United States with nearly 70 million customers.... Last year, industry analysts estimated one-third of First USA's annual revenue came from the penalties and interest rate hikes it assessed against customers - an amount totalling nearly $20 billion...."

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