The U.S. House of Representatives overwhelmingly approved credit card legislation on Thursday aimed at protecting consumers from hidden fees and sudden interest rate hikes.
The chamber voted in support of the Credit Cardholders' Bill of Rights. Banks opposed to legislation have warned it could reduce the amount of credit available and make it more costly to use a credit card.
President Barack Obama, who backs congressional efforts to overhaul the industry, is expected to sign a bill into law by late May once the Senate considers its own version next week.
(Reporting by John Poirier)