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All three newscasts sent correspondents to Capitol Hill where a Senate committee put Bank of America and Discover credit cards on the hot seat. At issue was a technique called "risk repricing," NBC's Lisa Myers told us, a legal way of hiking customers' monthly payments without warning. It applies even to good customers who always make timely payments, ABC's Lisa Stark (no link) warned, as higher interest rates kick in "if that customer's overall credit rating drops for some reason." CBS' Chip Reid noted that "some credit card companies have dropped the controversial practice" so one motive for the hearings was "to try to embarrass the companies into voluntarily changing their policies." Presumably orchestrating negative coverage on all three nightly newscasts contributed to that effort.
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