WASHINGTON — President Barack Obama warned the credit-card industry that his administration is pushing for reforms to protect consumers from abusive practices and strengthen oversight.

"We are confident that we can arrive at something that is common sensical, something that allows the industry to continue to provide loans and to run a stable business model that's not dependent on bubbles, that's not dependent on people getting overextended or finding themselves in over their heads," Obama told reporters after a meeting Thursday with representatives of the major U.S. credit card issuers.

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