Judge blocks Biden administration rule capping credit card late fees at $8 | CNN Business
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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.

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.

US District Judge Mark T. Pittman, an appointee of former President Donald Trump, granted a preliminary injunction to several business and banking organizations that allege the new rule violates several federal statutes.

These organizations, led by the right-leaning US Chamber of Commerce, sued the Consumer Financial Protection Bureau after the rule was finalized in March. The rule, which was set to go into effect Tuesday, would save consumers about $10 billion per year by cutting fees from an average of $32, the CFPB estimated.

  • pop
    517·
    15 days ago

    Bandwagoning tiny shit like “credit card fees” is not going to change the number of deaths he has funded. But that never was your concern tho, was it?

    It’s about “Biden does good thing for us so we can excuse a genocide he’s causing”?

    Come back when you grow up and you’re done circlejerking on petty little things that your team does.