Delaware keeping close eye on Wall St. meltdown WILMINGTON, DE (wesm) - (AP) Delaware business leaders and state officials are keeping a close eye on the financial meltdown on Wall Street because of the state's huge banking presence.

About one in 10 jobs in the state are tied to finance, particularly in the credit card industry where a 1981 state law helped attract many banks. The Financial Center Development Act eliminated caps on interest rates and allowed banks to charge fees on top of interest.

Donald Puglisi, a professor emeritus of finance at the University of Delaware, says the state's major players are in good financial shape. However, others worry the crisis will prompt a crackdown on the credit card industry.

Bill Dunkelberg, an economics professor at Temple University, says there is no doubt that Congress will take action.

--- Information from: The (Wilmington, Del.) News Journal, http://www.delawareonline.com © Copyright 2009, wesm