News@lemmy.world · 2 months ago

Federal judge temporarily halts Biden plan to lower credit card late fees to $8

abcnews.go.com

cross-posted to:
[email protected]

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Federal judge temporarily halts Biden plan to lower credit card late fees to $8

abcnews.go.com

return2ozma@lemmy.world to

News@lemmy.world · 2 months ago

cross-posted to:
[email protected]

A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week

The judge…

The temporary nationwide injunction imposed by Judge Mark Pittman in the Northern District of Texas is a win for the big banks and major credit card companies, which collect billions in revenue each year in late fees and were looking to stop the proposal from going into effect.

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2 months ago
Hey bub, don’t insult kindergarten politics like that!

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