Next industry to be threatened by Obama: Credit cards

President Obama will meet directly with credit card executives this week and plans to tell them to support strict measures that curb lending abuses or face the wrath of angry consumers and a determined Congress, according to banking industry officials…

Press secretary Robert Gibbs said yesterday that administration officials will make clear to the executives that Obama would like them to take action voluntarily but that he supports legislation to force restrictions on their lending practices if they refuse.