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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.
According to the CFPB, issuers collected more than $14 billion worth of credit card late fees in 2022, with an average fee of $32.
The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards. The suit was filed because of price fixing and other allegedly anti-competitive trade practices in the credit card industry. In February 2019 ...
Credit card late fees will now be capped at $8 thanks to a new rule instated by the Consumer Financial Protection Bureau (CFPB).
Federal regulators finalized a rule on Tuesday to cap most credit card late fees at $8 as part of a broader push by the Biden administration to eliminate junk fees.
Zazzle. Zazzle is an American online marketplace that allows designers and customers to create their own products with independent manufacturers (clothing, posters, etc.), as well as use images from participating companies. Zazzle has partnered with many brands to amass a collection of digital images from companies like Disney, Warner Brothers ...