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Rule Capping Credit Card Late Fees at $8 Scrapped by Federal Judge
A rule capping credit card late fees at $8 was scrapped by a federal judge earlier today, Tuesday, April 15, 2025 after the Consumer Financial Protection Bureau agreed with its opponents that the rule was illegal. Late fees were capped at eight dollars for issuers of credit cards with greater than one million open accounts unless they could prove that higher fees were necessary to cover their costs. The rule was part of... The post Rule Capping Credit Card Late Fees at $8 Scrapped by Federal Judge appeared first on The Gate.
A rule capping credit card late fees at $8 was scrapped by a federal judge earlier today, Tuesday, April 15, 2025 after the Consumer Financial Protection Bureau agreed with its opponents that the rule was illegal.
Late fees were capped at eight dollars for issuers of credit cards with greater than one million open accounts unless they could prove that higher fees were necessary to cover their costs.
The rule was part of…
The post Rule Capping Credit Card Late Fees at $8 Scrapped by Federal Judge appeared first on The Gate.
