Credit Cards and the 2012 Presidential Candidates

By cardratings.com, CardRatings contributor
Updated, January 19, 2012
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Decision 2012 and credit cards - Newt Gingrich and Mitt Romney

The business perspective

Both of the following Republican candidates have past ties to the business community - ties which are proving to be as much of a liability as a benefit during the campaign:

Newt GingrichNewt Gingrich

Former House Speaker Gingrich espouses the pro-business doctrine that most regulation is unnecessarily burdensome. He would repeal the Dodd-Frank financial reform legislation, and also repeal Sarbanes-Oxley, a corporate accountability measure that was put in place in the aftermath of the Enron scandal.


Mitt RomneyMitt Romney

Former Massachusetts governor Romney calls regulation a barrier to job creation. Taking a more moderate view than Gingrich, he would repeal Dodd-Frank and amend (not repeal) Sarbanes-Oxley.



Government regulation does add to the cost of doing business, and for credit card customers, this cost can show up in the form of higher credit card rates and fees. On the other hand, some of the regulations Romney and Gingrich rail against were put in place to protect consumers. With less regulation, the trade-off for lower costs might be a more buyer-beware environment for credit card users.

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