News release: “Today, Treasury Secretary Tim Geithner, joined by Congresswoman Carolyn Maloney, met with consumer groups, civil rights leaders and credit card consumers to discuss the national need for credit card reform. The discussion centered on the House Bill, Credit Card Holders Bill of Rights of 2009, (HR 627) which is set for a vote tomorrow and would significantly strengthen consumer protections in the credit card market.”
WSJ: “President Barack Obama stepped up pressure to overhaul credit-card regulations, targeting banks and card issuers that are boosting fees and tightening lending during the recession. After meeting with industry executives at the White House on Thursday, Mr. Obama said consumer protections have “been out of balance” with credit-card companies’ interests. He said his administration would work with lawmakers to shape legislation.”
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