Obama wants Fed credit card rules codified -aideBy REUTERSWASHINGTON (Reuters) - The White House Wednesday gave its support to an effort by the Federal Reserve to tighten regulations on credit card companies, saying it wanted to see the Fed's new rules codified into law. "The Fed is working on finalizing some rules relating to credit cards and the president wants to make sure that legislation codifies that as well," White House spokesman Robert Gibbs told reporters on a flight returning to Washington from Iowa, where President Barack Obama spent the day. The White House has said it is working closely with Congress to craft legislation to rein in what it says are deceptive practices by the credit card firms. (Reporting by Ross Colvin and Caren Bohan; Editing by Bill Trott)  Most Popular |
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