Sean Vanatta on Credit Cards
New Books in Science, Technology, and Society
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The Evolution of Credit Cards and the Financial Industry
This chapter traces the historical development of credit cards in the United States, from their inception in department stores and gasoline companies to the involvement of banks during World War II. It explores the motivations behind bankers turning to credit cards as a technological solution to tap into consumer markets and the challenges faced in the 1960s. The chapter also delves into the competition among banks, the issue of credit card fraud, and the movements for regulation and consumer protection.
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