Crack down on credit-card industry now, not in 2010

In an editorial Tuesday, the Miami Herald argues that Congress should quickly impose necessary new restrictions on the credit-card industry because the Fed is taking too long to get the job done:

Near the end of 2008, the Federal Reserve Board adopted new rules that would end some of the worst abuses by credit-card issuers. These rules, 18 months in the making, would put an end to such practices as hiking interest rates on customers who have never made a late payment and kept their accounts current, as well as the practice of increasing interest rates on money already borrowed. Trouble is, the rules won't take effect until July of next year.