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The Obama administration vows new rules to curb high interest rates and predatory practices; It faces stiff opposition from the industry The Obama administration is moving to rewrite the rules of the game for credit card lenders, vowing to crack down on high interest rates and predatory practices it says contributed to the economic crisis.

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The White House gave a boost Sunday to congressional efforts to overhaul credit card industry practices, with economic adviser Lawrence Summers saying President Obama would "be very focused, in a very near term, on a whole set of issues having to do with credit card abuses...."

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