Lazarus: Credit card issuers should listen to the anger

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Los Angeles Times consumer columnist David Lazarus dissects the credit card kerfuffle on video and in print today.

The nation’s consumer-in-chief, President Obama, called executives to the White House for an unusual scolding about the powerful industry’s practices -- such as hiking interest rates for any reason or slapping on fees. But Obama must realize that card issuers aren’t going to soften their practices without a fight.

If the industry wants to win back people’s trust, it needs to treat them fairly. If they don’t do anything about it, Congress will.