WASHINGTON, Dec. 2 (UPI) -- U.S. credit card issuers are under pressure to change some profitable practices, like raising interest rates based on card-holders' other debts.
U.S. Sen. Carl Levin, D-Mich., plans a hearing next week, The Washington Post reported.
"It is becoming increasingly difficult for the credit card industry to defend this type of unfair interest rate increase," Levin said.
Rep. Carolyn Maloney, D-N.Y., plans to introduce legislation that would require card-issuers to provide more information for consumers on how interest rates and fees are set.
"This is a huge issue to the public because credit cards have become a way of life," Maloney said.
U.S. card-holders have racked up about $2 trillion in debt. Critics say high interest rates and fees have trapped many people who keep making payments without ever clearing their debt.
