Retail credit card debt is accounting for a greater proportion of overall debt in consumer bankruptcies in recent years. A big reason is the record high interest rates banks, including Synchrony and Bread Financial, are imposing on clients after the Consumer Financial Protection Bureau tried to cap credit card late fees at $8, down from $32, in March 2025.
Chapters:
0:00-0:20 Introduction
0:20-2:10 Regulation Z
2:10-4:45 What it means for consumers
4:45-5:33 Rise in bankruptcies
5:33-6:25 Padding profits
6:25-8:01 Responsible consumer practices
Produced and Shot by: Gabrielle Fonrouge, Hugh Son
Senior Managing Producer: Tala Hadavi
Edited by: Evan Miller
Additional Footage: AP Newsroom, Getty Images
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The Sneaky Ways Retail Credit Cards Are Bankrupting American Shoppers
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