Obama vows to push for credit card reform

"We want to preserve the credit card market but also want to do so in a way that eliminates some of the abuses and some of the problems that a lot of people are familiar with," Obama said. Many U.S. consumers complained the high-fees of credit card companies. The House Wednesday approved a bill that would stop credit card issuers from imposing arbitrary interest rate increases and penalties, while halting certain billing practices; Kazinform cites Xinhua. See www.chinaview.cn for full version.