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News White House Seeks Relief for Consumers on Credit-Card Rules

White House Seeks Relief for Consumers on Credit-Card Rules

Submitted by Conservative09 | 12 months ago

Wall Street Journal - President Barack Obama stepped up pressure to overhaul credit-card regulations, targeting banks and card issuers that are boosting fees and tightening lending during the recession.

After meeting with industry executives at the White House on Thursday, Mr. Obama said consumer protections have "been out of balance" with credit-card companies' interests. He said his administration would work with lawmakers to shape legislation.

Tags: Obama, Credit Card, Recession, Economy

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Teikiatsu (Independent) - 12 months ago

Part of me, the part that made stupid mistakes with credit cards when I was in college and is still paying for them, says 'good.'

The rest of me, the thinking part, says to hell with government telling a private business how to conduct business.

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