To the Editor:
The Oct. 19 article [page 2] on Providian Financial Corp.s unveiling of a new deposit product implied that the Consumer Federation of America approves of the companys credit practices.
While the CFA commends Providian for new efforts to encourage middle-income savings, we remain [as I said a few months ago] troubled by Providians aggressive marketing to lower-income households and by that of all credit issuers who extend unaffordable credit to these households.
Executive Director Consumer
Federation of America Washington