After the 2008 recession, the government did make some big changes that had an impact. They passed laws that capped the interchange fees of debit cards, which

After the 2008 recession, the government did make some big changes that had an impact. They passed laws that capped the interchange fees of debit cards, which effectively killed debit cards They passed a law that prevented banks from changing the interest rate on credit cards in almost all cases - effectively forcing banks to charge high interest rates at the beginning, which then drove consumers to pay off their cards each month, so now most consumers are "transactors" (instead of "revolvers"). You now have SUPER HIGH limits (like $50k) for rich people, but they pay them off each month