Credit card regulations could come by the end of the month: Flaherty

Finance Minister Jim Flaherty says regulations for the credit card industry will probably be tabled by the end of this month.

Flaherty won't say what changes he has in mind.

He also won't say if he plans to regulate the rates charged by Visa, MasterCard and other credit card companies.

Flaherty complains those rates remain high even though the Bank of Canada slashed its trend-setting overnight rate to only one-quarter of one per cent more than two weeks ago.

The Canadian Bankers Association says credit card rates are high partly because the recession has led to a jump in delinquency rates.

The association adds 70 per cent of credit card holders pay no interest because they pay their bills on time.