The rule capping credit history card late service fees at $8 is on hold — here’s what it means for you

The rule capping credit history card late service fees at is on hold — here’s what it means for you


Essential Factors
  • The U.S. banking sector gained a key victory in its effort and hard work to block the implementation of a Consumer Monetary Security Bureau rule that would’ve substantially constrained the fees that credit history card firms can demand for late payment.
  • A federal courtroom on late Friday accepted the industry’s past-minute legal work to pause the implementation of a regulation that was announced in March and set to go into outcome on Tuesday.
  • In his get, Choose Mark Pittman of the Northern District of Texas sided with plaintiffs like the U.S. Chamber of Commerce in their fit against the CFPB.



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