Bankers are holding nothing back in their efforts to squash a proposal designed to revamp card lending practices.

The proposal, issued in May by the Federal Reserve Board, the Office of Thrift Supervision, and the National Credit Union Administration, drew over 56,000 letters from bankers, card issuers, consumer groups, and consumers. Industry executives said the plan is unconstitutional and would limit consumer access to credit, drive up costs, and be a burden to implement.

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