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.
If you read the reactions from banks, it’s sickening. They are threatening to raise fees elsewhere, or interest rates, to “make up for lost revenue” because heaven forbid they just make less money and be okay with it.
These companies make obscene amounts of money.
They don’t need that much money.
It’s sickening.
Well just hold on there a minute, if they raise interest or charge higher fees on things that doesn’t disproportionately negatively impact poor people then it might be less predatory… And we can’t have that, we gotta keep punching those that can’t hit back.