Economics

8.1. Institutions that offer credit cards should offer cards to financially capable young people.

8.2. Banks should allow financially capable young people to open accounts and take out loans.

All of the largest U.S. banks restrict their credit cards to those 18 or older. Many have similar restrictions on checking accounts, or require a parent to help open the account. That makes it difficult for under18s, including emancipated ones, to buy things such as cars or furniture, or, with the proliferation of telephone and Internet sales, even some inexpensive items.

Young people who have money should be able to have as much authority to use it as anyone else.