Released: May 09, 2009

Obama urges credit card reform

Source: Michael D. Shear, Washington Post (Free Registration)

President Obama used his weekly radio and Internet address to reiterate his call for credit card reform, saying the nation can no longer tolerate an “anything goes” mentality by the credit card companies.

Obama has urged Congress to pass legislation that would do away with some of the most aggressive fees, penalties and interest rates levied by the credit card companies on their cardholders.

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