by Mathew Katz

Ryan Bubb and Alex Kaufman, two Harvard economics doctoral candidates, have a great article in today's New York Times explaining how a new generations of credit cards could look in the wake of new credit card regulation legislation. They write:

We have performed a study that compared credit cards issued by investor-owned banks to those issued by customer-owned credit unions. We found that credit unions are less likely to charge the fees and penalties that the new act hopes to eliminate — and when they do, they charge less than other issuers.

Meanwhile, Moody's Investors Service re-affirmed today that the U.S. government has a "solid triple-A" credit rating. The rating agency warned, however, that if American debt continues to increase over the next two years, that high rating could be at risk.