(Wall Street Journal) — The nation’s new consumer watchdog agency, the subject of much banking-industry angst, plans to release a report Tuesday with some favorable news about giant credit-card issuers: Banks have eased up on credit-card rate increases and turned more consumer-friendly over the past year.
“Leaders in the industry deserve credit for moving in the right direction,” Elizabeth Warren, a White House adviser in charge of setting up the new Consumer Financial Protection Bureau, plans to say in remarks prepared for a Tuesday credit-card conference. Ms. Warren said that “much of the industry has gone further than the law requires in curbing repricing and overlimit fees.” The Consumer Financial Protection Bureau report represents the agency’s first research on the credit-card market.
