Credit card bill heads to Obama's desk


Following the Senate's lead, the House passed a bill this afternoon designed to help credit card customers by limiting fees and penalties. President Barack Obama could sign it into law as soon as this week.

The bill would prevent card issuers from penalizing borrowers for late payments to other lenders, force issuers to apply payments to the highest-interest balances first and require them to wait to raise rates after a late payment, among other provisions.