Following continuous increases to borrowing fees by credit cards companies, lawmakers in the US are considering steps to bring the situation to order.

Reports said credit card customers are feeling the pains of every increase and as Capital One, Citibank and HSBC etc are raising their interest rates it’s feared that more people would be hard hit.

This is more so as the rate of unemployment keeps rising at an alarming rate, the credit crunch bites harder and customers struggle to pay bills.

In a recent hearing the lawmakers were quoted as saying the increases were vexing consumers as well as Congress and that a crackdown was likely very soon.

“Consumers are trapped in a business model that is designed to induce mistakes and jack up fees,” said a senator, adding that such predatory pricing had to be stopped.

Last December, the Federal Reserve and other regulators released a rule preventing some of the controversial practices that include raising rates on existing debt, which would only be coming into force by mid next year.

Advocates, however, argue that it would be too late for struggling customers.