Obama vows to push for credit card reform

WASHINGTON. April 24. KAZINFORM. U.S. President Barack Obama said on Thursday that his administration will push for strong and reliable protections for credit card consumers; Kazinform refers to Xinhua.
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"We want to preserve the credit card market but also want to do so in a way that eliminates some of the abuses and some of the problems that a lot of people are familiar with," Obama said. Many U.S. consumers complained the high-fees of credit card companies. The House Wednesday approved a bill that would stop credit card issuers from imposing arbitrary interest rate increases and penalties, while halting certain billing practices; Kazinform cites Xinhua. See www.chinaview.cn for full version.
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