The mandatory use of single page fact sheets on a range of everyday banking products will be deferred to January 2012 from September if the House of Representatives adopts a recommendation of its Economics Committee.The committee reviewed the Consumer Credit Protection Amendment (Home Loans and Credit Cards) Bill 2011, which introduces a requirement for lenders to provide a key facts sheet with home loan and credit card contracts.No further changes to the bill are proposed, so the industry will have to wear other rules many in the industry dislike, including provisions that regulate the approval of spending on credit cards above the credit limit; restricts issuers from making unsolicited invitations to increase credit limits, and specifies an allocation hierarchy for payments, so that credit advanced on higher rates is repaid first.The most controversial aspect of the bill relates to use of cards above the credit limit. A credit provider will be allowed to approve purchases that would result in the credit limit being exceeded, but this buffer will be limited to a 10 per cent default. Credit providers must not impose fees or charges, or a higher rate of interest, on the consumer as a result of the card exceeding its limit.