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Mellody Hobson on rising consumer debt

Name: Mellody Hobson on rising consumer debt
Uploaded: 2017-04-09T14:31:19-0400
Duration: 1 min 48 s
Description: According to the credit rating agency Equifax, credit card companies issued more than 10 million cards to subprime borrowers last year; that's up 25% from 2014. And it isn't just credit card debt that's growing. CBS News Financial Contributor Mellody Hobson reports.

According to the credit rating agency Equifax, credit card companies issued more than 10 million cards to subprime borrowers last year; that's up 25% from 2014. And it isn't just credit card debt that's growing. CBS News Financial Contributor Mellody Hobson reports.