Obama asks for new credit card rules

Malaysia News.Net
Saturday 9th May, 2009

US President Barack Obama has once again appealed to Congress to pass a credit card reform bill.

The White House has referred to the unfair penalties supposedly imposed by credit card companies, including practices such as marketing credit cards to minors, interest rate increases on existing balances and the raising of interest rates on future purchases.

The president has urged Congress to finish working on the bill in coming weeks so that he can sign it into law by May 25th.

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