	ottawa seeks explanation of credit card rates minister of state for finance tom hockin said he has asked the canadian bankers association an industry lobby group for an explanation of the level of credit card  rates hockin said he hopes to here the association s response on the important issue soon hockin was responding to questions in the house of commons about why credit card rates which run as high as pct per year remain high when other rates are falling today the canadian bank rate fell to pct from pct last week and the canadian imperial bank of commerce cut its prime rate effective tomorrow to pct from pct reuter 
