By Juan Lagorio

NEW YORK (Reuters) - Visa Inc (V.N), the world's largest payment network, said on Tuesday that U.S. legislation curbing certain practices by credit card companies would force the industry to restructure as revenue expectations shrink.

"It's going to cause the whole industry to rethink itself," Visa's Chief Executive Joseph Saunders said in an interview. "It will result in less credit being offered to less people."

The bill, due to go into effect in February 2010, will restrict the ability of credit card issuers' to raise interest rates on cardholders' existing balances, to charge certain fees, and to impose penalties on consumers that the government deemed unreasonable.

Citigroup Inc (C.N), Bank of America Corp (BAC.N), JPMorgan Chase & Co (JPM.N), American Express Co (AXP.N), Capital One Financial Corp (COF.N), and Discover Financial Services (DFS.N) have over 80 percent of the U.S. credit card industry.

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