News

Court Scraps $8 Credit Card Late Fee Limit, at Consumer Bureau’s Request
The Consumer Financial Protection Bureau switched sides and backed a federal lawsuit by banks and business groups seeking to ...
Rule to cap credit card late fees at $8 tossed by federal judge
According to the CFPB, the average credit card late fee is $32, and Americans pay $14 billion to banks every year to cover such fees. Biden’s CFPB director, Rohit Chopra, said the banks “harvest ...
Judge tosses Biden-era credit card late fee rule: What to know
A federal judge just scrapped a rule that capped credit card late fees at $8, down from over $30. This reverses a move made ...
Trump administration moves to scrap Biden-era credit card late fee rule
President Donald Trump’s administration on Monday asked a federal court to throw out a regulation capping credit card late ...