Credit card industry will have to make major adjustments to new laws, Capital One CFO says

NEW YORK — New credit card legislation is expected to have a dramatic impact on the national lending landscape, the chief financial officer of Capital One Financial Corp. said Wednesday.

Last month, President Barack Obama signed into law sweeping credit card reform legislation to protect debt-ridden consumers from surprise charges.

Speaking Wednesday at the Keefe, Bruyette & Woods Diversified Financial Services Conference, Capital One CFO Gary Perlin didn’t give specifics about how the law will affect the McLean, Va.-based lender’s costs or revenue.