Obama To Take Aim At Credit Card Abuses
RENEE MONTAGNE, host:
NPR's business news starts with Mr. Obama's credit card crackdown.
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MONTAGNE: As more and more Americans struggle to pay back their credit card debt, President Obama is taking aim at controversial practices in the credit card industry. Later this week, Mr. Obama and his advisors plan to meet with executives from more than a dozen banks. According to the Washington Post, the president's message will be: stop resisting government efforts to protect consumers from costly lending practices. Congress is considering legislation that would ban lenders from some of the most controversial practices, like arbitrarily raising interest rates.
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