Obama will seek changes to credit card bill: Frank

WASHINGTON (Reuters) - President Barack Obama will seek changes to House of Representatives legislation aimed at curbing high credit card rates and charges, the chairman of the House Financial Services Committee said.

Barney Frank, at a meeting on Wednesday to consider sweeping changes to the credit card industry, did not provide details of Obama's proposed changes.

Frank, a Massachusetts Democrat, said he planned to introduce Obama's proposals possibly during a vote on the bill by the full House next week. The committee must first approve it before the full House can debate it.

"The president of the United States informed me through his chief of staff that they were going to propose some changes to this bill," Frank said.

Frank said he had refrained from introducing Obama's proposals during the bill-writing session on Wednesday because they could slow the committee's work on moving the bill, called the Credit Cardholders' Bill of Rights, to the full House.

The committee's session was taking place one day before top executives of big banks and credit card companies meet with Obama, who campaigned for credit card reforms.

Executives from Bank of America Corp, American Express Co, Citigroup Inc, Wells Fargo & Co, JPMorgan Chase & Co, Capital One Financial Corp, Visa Inc and MasterCard Inc will be among 14 credit card companies meet Obama early Thursday afternoon at the White House.

(Reporting by John Poirier; Editing by Ted Kerr)