Judge temporarily blocks Biden plan to cap credit card late fees

new admin May 12, 2024

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Judge temporarily blocks Biden plan to cap credit card late fees – CBS News

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A federal judge in Texas Friday temporarily halted a Biden administration rule that would cap credit card late fees at $8, about a quarter of what they are now. Credit card companies receive about $14 billion in late fee payments per year, according to the Consumer Financial Protection Bureau. Elise Preston has more.

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