Olivia Rosane, Common Dreams A Trump-appointed judge on Friday delivered a win for big banks when he granted the U.S. Chamber of Commerce a temporary injunction halting a Biden administration rule that would cap credit card fees at $8. The Consumer Financial Protection Bureau (CFPB) rule, which would have gone …
Read More »New Rule Under Biden Would Save Americans $10 Billion a Year in Credit Card Fees
Thor Benson, Common Dreams As part of the Biden’s administration’s efforts to eliminate so-called “junk fees,” the Consumer Financial Protection Bureau has finalized a rule that would cap credit card late fees at $8. The average credit card late fee is $32, so the savings for consumers could be huge. …
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