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Fewer credit card rate hikes after regulations

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NEW YORK (AP) -- Credit card holders are facing fewer interest rate hikes and forking over sharply less in late fees.

A year after new regulations curbed a spate of questionable billing practices, federal officials say over-the-limit penalty charges have also been dramatically curtailed. The findings come from the newly created Consumer Financial Protection Bureau, which will assume responsibility for administering the regulations once it's officially up and running this summer.

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