As scheduled, President Obama met with 14 top executives from the nation’s largest credit card companies at the White House last week seeking to pressure them into accepting changes — some voluntarily, some through legislation — that could cut heavily into profits at a financially difficult time. Attendees described the half-hour meeting in the Roosevelt Room as cordial and nonconfrontational. Obama expressed concern about certain credit card policies, and although some issues were addressed in new laws recently adopted by the Fed that go in affect next year, he feels that the government needs to go further.
“I know you feel that anything beyond what the Fed has done would be overkill,” the president was quoted by one participant as saying. “I just d