Obama Calls for Credit Card Industry Reform
WASHINGTON — The credit-card industry needs immediate reform, President Barack Obama said Thursday, as Congress continued working on legislation aimed at curbing rates and fees deemed as abusive by some.
The president has been pushing for increased credit-card industry accountability and more protections for consumers as the recession straps families and banks receive hundreds of billions of dollars in government support. At a public meeting in New Mexico on Thursday, the president emphasized the need for greater consumer protections.
