Obama Pushes for More Consumer-Credit Protections

AP: President Barack Obama is pushing to rein in costs for millions of Americans who use credit cards, an appeal to consumers as many struggle to pay their bills.



But the banking industry is warning that Obama’s push for legislation could backfire, restricting lenders and making less credit available to Americans during the economic crisis.



Obama was meeting with leaders of the credit-card industry Thursday, a session the White House said would be an “open and productive conversation.”