Reported 1 day ago
The Trump administration has requested a federal court in Texas to annul a regulation that limits credit card late fees to $8, claiming it is illegal. The request, supported by business and banking groups, follows a previous ruling that blocked the Consumer Financial Protection Bureau (CFPB) from enforcing the rule aimed at curbing excessive fees. This regulation was part of President Biden's initiative against 'junk fees' but has faced significant opposition from Republicans who criticize the CFPB's authority.
Source: YAHOO