Introduction According to an article by Ben Brake, �A key objective of the federal government's $700 billion financial recovery package is to unlock credit markets for consumers, easing access to mortgages, car loans, student loans and other forms of credit� (Brake, 2008). Yet federal regulators are considering taking an action that would reduce access to credit and make credit even more expensive. In the paragraphs below, Brake�s article is discussed in detail, including summary, major points, and how financial management applies to the article. Summary Federal regulators are considering action on the proposed regulations to restrict the ability of credit issuers to set interest rates based on the borrower�s risk of credit and payment decisions based on their own debt. When a bank issues a credit card today, it takes into account the credit borrower�s history, spending, and income, to indicate whether or not someone is a good risk. Borrowers with strong risk profiles, credit terms are usually less restrictive. A riskier borrower faces larger fees and rates, whereas a lower......

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