The House Financial Services Committee has voted to speed up the enactment of tough new credit card rules from mid-February of next year to Dec. 1 of this year.
President Barack Obama has already signed legislation that would impose strict new rules on lenders, including limits on when and how banks hike rates.
Most of the rules will take effect in mid-February, a date set by Congress to give banks time to prepare for the changes.
But Democrats say lenders have abused the grace period by hiking rates ahead of time. The panel agreed to exempt lenders with fewer than 2 million credit cards in circulation.
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The measure still faces scrutiny by the full House and the Senate. (AP)
