White House set to meet with credit card executives

04/17/2009 | Reuters

Officials in the Obama administration will meet Thursday with executives of credit card companies to discuss transparency of lending practices and interest rates, sources said. Before the meeting, the House Financial Services Committee plans to weigh a bill that would reform the credit card industry. Scott Talbott, senior vice president for government affairs at the Financial Services Roundtable, notes there is "lots of misinformation" being circulated about credit cards and that the industry is "looking forward to a frank discussion with the administration about credit cards."

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