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President Barack Obama turned his attention to college students as commencement season gets underway. NBC's Lisa Myers quoted his call to "clean up practices at universities to protect students from getting stuck in debt before they even get started in life." A college student with plastic graduates with an average of $4,100 in credit card debt, Myers noted. Restrictions on marketing plastic to teenagers were included in a Senate bill that Nancy Cordes covered on CBS. She expects it to pass "but there is a catch. Most of these reforms would not kick in for nine months to a year."
The most noteworthy tidbit in Cordes' reporting was her use of real people's anecdotes to illustrate it. She showed us a Chicago couple hit with an 11% hike in their interest rates without "notice or explanation" by Bank of America. The noteworthy thing was that Cordes found it not noteworthy that the couple happened to be gay.
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