The measure could go to the full House for a vote as soon as next week. The White House had been quiet about the bill until last Sunday when Obama economic adviser Larry Summers expressed the administration’s view of getting tough on credit card companies. The bill is similar to tougher rules the Federal Reserve passed late last year but those don’t go into effect until July 2010. Some Republicans say the Fed rules are enough and that the House bill would serve no purpose. But supporters point to the fact that the Fed could later undo the rules if Congress does not pass a law.”]
Source: https://www.cuinfosecurity.com/house-panel-approves-credit-card-bill-a-1405