Credit card fees: The next hit to bank earnings


The federal government has rescued a number of large banks and given them TARP money to help with losses and write-offs. Now Congress and the Administration are taking actions that will push down bank earnings again.

According toThe Wall Street Journal, the government's move to cut card fees and restrict increases in interest rates "is yet another headache for the credit-card industry, already battered by rising delinquencies and defaults because of the recession."