Big Labor: Credit Card Profiteers

It turns out that the union card may not be the most expensive item in union members' wallets. It could be their credit card, at once both attacked and sold by Big Labor's lucre-seeking bosses.  This week, Hoover Institution fellow Peter Schweizer looked at just how much union bosses pull in from "affinity" credit cards that they've gotten members and supporters to stick in their wallets. Readers may well get sticker shock: the AFL-CIO pulled in $28,163,266.00 last year. Which would be fine, save the massive hypocrisy from the union federation and the politically powerful Service Employees International Union, which routinely attack credit card companies. As Schweizer puts it, "If banks offer consumers products that ensnare them in deeper debt it's a problem.  But when unions do it, suddenly it's a legitimate revenue stream."It turns out that while blasting credit companies for offering introductory card rates that go higher with missed payments, mortgages from Chase, or...(Read Full Post)