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Bank executives raised their projections of the cost of new credit card legislation to $750 million, from about $500 million.
He has marshalled a persuasive attack on CCTV surveillance, the government's DNA database and its ID card legislation.
The proposals carry considerable momentum given the popularity of credit card legislation signed into law in May.
For example, the credit card legislation passed by Congress last year, which is being adopted in phases, could cost the bank $900 million this year, after taxes.
On Thursday, the first of a set of new rules went into effect resulting from the landmark credit card legislation earlier this year.
"Plastic Card Tricks" (editorial, March 29) suggests that pending federal credit card legislation provides a perfect antidote to America's recent economic woes.
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Another part of last year's credit-card legislation offered a preview.
New credit-card legislation requiring that monthly statements make clear the long-term cost to cardholders of making only minimum payments is another.
Last year's credit-card legislation, for example, cracked down on overdraft fees (the frequently steep charges for people who tried to withdraw more money on a debit card than they had in their account).
The president should be talking about kicking our addictions to easy credit, to quick fixes and to a culture of more is better (and Congress's new credit-card legislation, while perhaps eliminating some of the worst aspects of that industry, certainly didn't send the right message about personal finance).
The ID cards legislation will be a high-profile test of whether Labour has really learned the lesson of the voters' verdict on May 5. On one level, the bill is a manifesto commitment which the government feels empowered to drive through parliament.
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