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Miss a credit card payment? Federal regulators want to put new limits on late fees
1 month ago | By NPR
The Consumer Financial Protection Bureau wants to cap late fees at $8. Banking groups say the proposal would result in higher costs for consumers.
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Americans could save $9 billion a year through Biden's new proposal that would slash credit card late fees
1 month ago | By Business Insider
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The CFPB proposed a rule to crack down on credit card late fees, saving consumers up to $9 billion a year.
It includes lowering the typical late fee amount and getting rid of automatic inflation adjustments.
This follows Biden's announcement last year of a plan to crack down on junk fees.
President Joe Biden's administration just took the next step in cracking down on credit card late fees that cost Americans billions of dollars a year. On Wednesday, the Consumer Financial Protection Bureau proposed a new rule to limit credit card late fees that the agency estimates cost...
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Why Credit Card Fees Could Shrink: Biden Proposal Would Limit Late Fees To $8, Reduce Penalties
1 month ago | By Forbes
The change could save Americans $9 billion in credit card late fees.
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