Are you one of millions of American’s frustrated with credit card coverage charges and surprise fees? Then you’ll be pleased to hear that President Barack Obama plans to approve new rules for the credit card industry that are designed to protect consumers and help more Americans manage their debt, according to

“These are important reforms to protect consumers and to bring some common sense rationality into our financial system, and the president looks forward to signing it as quickly as possible,” says White House spokesman, Robert Gibbs.