Credit card fees cap proposed

April 12, 2012 1:27:25 PM PDT
A consumer watchdog agency is proposing to relax credit card fees.

The Consumer Financial Protection Bureau says the cap would govern the fees which credit card issuers can charge customers in the first year that they hold a card.

Those can include annual fees, application fees and other upfront charges.

Banks would not be allowed to charge more than 25 percent of the cardholder's credit limit.