Obama presses for legislation to reform credit card practices

05/15/2009 | Wall Street Journal, The · NYTimes.com · Washington Post, The

At a town hall meeting in New Mexico, U.S. President Barack Obama said he must have legislation that addresses credit card practices on his desk before Congress breaks for Memorial Day. While the House passed a Credit Cardholders' Bill of Rights in April, the Senate is scheduled to vote on a bill that would restrict some questionable strategies by credit card companies. Meanwhile, major credit card issuers are facing substantial losses.

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Wall Street Journal, The · NYTimes.com · Washington Post, The

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