Obama Attends Credit Card Reform Meeting

Obama's surprise appearance at the credit card reform agenda on the 23rd of April sparked controversy, as his presence signifies major changes in credit card legislation are on the horizon.

There is speculation that Obama will require all lenders to to undergo significant reform, not just TARP recipients. Obama and his administration are specifically focused on what they percieve to be deceptive billing practices that burden consumers with excessive annual fees and interest rates. The President is faced with the challenge of creating legislation that protects consumers, while not imposing rules that make it difficult for banks to issue credit.