Obama urges credit card firms to reform practices

WASHINGTON, April 23 (Reuters) - President Barack Obama on Thursday urged U.S. credit card companies to reform their practices, saying they should stop unfair rate increases and be more transparent and accountable.

"We're confident we can arrive at something that is common-sensical," Obama told reporters after a White House meeting with U.S. credit card company executives.

The Obama administration has been conferring with lawmakers on legislation before Congress to rein in practices by the credit card industry that have been criticized as deceptive.