Plan to curb certain credit card practices in works

April 17, 2008 1:37:17 PM PDT
Federal regulators are working on new rules to protect consumers from practices like retroactive rate increases, penalties for people who only pay a portion of their balances on time and excessive fees. The U.S. Office of Thrift Supervision is working on legislation that would create a bill of rights for credit card holders.

Banks that issue credit cards warn that it could lead to higher fees and reduced credit for card holders.