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The Chaos of Centralization
Exploring the messy nature of governance and legal intricacies, the chapter looks at a court case involving a bank's credit card practices across states, emphasizing the regulatory challenges and jurisdictional disputes. It delves into the Supreme Court decision favoring the bank, impacting future banking practices. The narrative also touches on Citibank's strategic evolution towards consumer-driven growth and the complexities faced by the Carter administration in regulating credit cards.