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The Consumer Financial Protection Bureau recently proposed a rule that would slash credit card late fee maximums by 75%, to $8 per late payment.
On March 5, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rule capping credit card late payment fees at $8 for the biggest card issuers after inviting public comment on the ...
The Consumer Financial Protection Bureau (CFPB) announced Tuesday that it will close a loophole that costs Americans more than $14 billion per year in late fees on their credit cards. My consumer ...
Consumers must watch out for credit card notices about interest rate hikes, as legal battle continues over a potential rule to cap late fees at $8.
Bankers say an $8 late fee on credit cards would be 'far below banks' actual costs.' Regulators say consumers would save $10 billion with new fee.
If you’re late with a credit card payment, you could be slapped with a penalty charge, although new regulations from the Consumer Financial Protection Bureau (CFPB) have capped the penalty fee ...
In testimony before the Senate, Consumer Financial Protection Bureau Director Rohit Chopra rejected arguments by banks that capping late fees would force them recover the lost revenue by charging ...
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 ...