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A federal judge in Fort Worth, Texas, on Friday blocked a new Biden administration rule that would prohibit credit card companies from charging customers late fees higher than $8.
At issue is a rule that would block card issuers with more than 1 million open accounts from charging more than $8 for late fees, unless they could prove higher fees are necessary to cover...
The CFPB has finalized a rule it proposed last year and will cap credit card late fees for the largest card issuers at $8.
The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards.
Starting Tuesday, May 14, large card issuers can't charge you more than $8 if you're late on your credit card payments. Families throughout the U.S. will save an estimated $10 billion in late...
Zazzle is an American online marketplace that allows designers and customers to create their own products with independent manufacturers (clothing, posters, etc.), as well as use images from participating companies.
The new rule aims to close a 2010 loophole the CFPB says has been “exploited” by credit card companies, allowing them to jack up fees on borrowers who made late payments.
The Consumer Financial Protection Bureau's new regulations will set a ceiling of $8 for most credit card late fees or require banks to show why they should charge more than $8 for such a fee.
The Consumer Financial Protection Bureau finalized a rule limiting credit card late fees to $8. The move could save 45 million people an average $220 per year on late fees.
Last month's decision by the Consumer Financial Protection Bureau (CFPB) to cap credit card late fees at no more than $8 per month seems destined to earn a spot in the annals of unintended...