Listen
24:39
Obama Meets with Credit Card Leaders
Today President Obama will meet with credit card executives to discuss changing their practices to help protect consumers. Both the House and Senate are considering a credit cardholders' "bill of rights" that would limit the ability of companies to raise interest rates on existing balances and require greater disclosure. Critics in the banking industry say that such a move would hurt the nation's push for economic recovery by restricting lenders and making credit less available. David Lazarus examines the issues on the table.
Today President Obama will meet with credit card executives to discuss changing their practices to help protect consumers. Both the House and Senate are considering a credit cardholders' "bill of rights" that would limit the ability of companies to raise interest rates on existing balances and require greater disclosure. Critics in the banking industry say that such a move would hurt the nation's push for economic recovery by restricting lenders and making credit less available. David Lazarus examines the issues on the table.