Judge blocks Biden administration rule capping credit card late fees at $8 | CNN Business
www.cnn.com
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.

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.

US District Judge Mark T. Pittman, an appointee of former President Donald Trump, granted a preliminary injunction to several business and banking organizations that allege the new rule violates several federal statutes.

These organizations, led by the right-leaning US Chamber of Commerce, sued the Consumer Financial Protection Bureau after the rule was finalized in March. The rule, which was set to go into effect Tuesday, would save consumers about $10 billion per year by cutting fees from an average of $32, the CFPB estimated.

  • Ensign_Crab@lemmy.worldEnglish
    1430·
    7 months ago

    I’m more willing to give Biden credit when he’s blocked by trump appointed judges than I am when he’s blocked in the senate by members of the party he nominally heads.

    • disguy_ovahea@lemmy.world
      265·
      7 months ago

      The Legislative Branch does not report to the Executive Branch, it checks it. If the Senate reported to the President, they wouldn’t be doing their job. Trump’s presidency was a good example of corruption of governmental checks and balances.

      • Ensign_Crab@lemmy.worldEnglish
        619·
        7 months ago

        The Legislative Branch does not report to the Executive Branch, it checks it.

        Do they ever. And you may support legislators based solely on how reliably they kill progressive policy for you, but I don’t.

        • disguy_ovahea@lemmy.world
          186·
          7 months ago

          Progressivism is not a contest. Party division weakens us. Just look at how it’s affected the Republican Party.

            • disguy_ovahea@lemmy.world
              163·
              7 months ago

              I’m not happy with centrism. The term is progressive for a reason. If you abandon all progress short of the goal, you’re not progressing. That just leads to party division, disenfranchisement, and Republican regression. Liberal policies of today were the progressive legislation of the past.

              • Ensign_Crab@lemmy.worldEnglish
                419·
                7 months ago

                I’m not happy with centrism. The term is progressive for a reason. If you abandon all progress short of the goal, you’re not progressing. That just leads to party division, disenfranchisement, and Republican regression.

                Stop trying to redefine “progressive” to mean “slow walking progress.”

                • disguy_ovahea@lemmy.world
                  142·
                  7 months ago

                  The government is slow, not the ideals. What you fail to understand is that liberal policies that you take for granted today were the progressive policies of the past. You’ll never reach the goal if you discredit and discard everything that comes up short.

                  Your willful ignorance to recognize that half the nation is in opposition of liberal and progressive ideals is what leads you to point the finger at those who understand that compromise is necessary when Democrats don’t have full control of the government.

                  If Democrats could successfully maintain presidential and congressional majority for an extended period, politicians would be forced to become more progressive to capture more of the vote. That requires unity, not division.

                  • Ensign_Crab@lemmy.worldEnglish
                    213·
                    7 months ago

                    What you don’t understand is that liberal policies that you take for granted today were the progressive policies of the past.

                    I understand that progressives fought for them in the past and centrists didn’t, often fighting against them, just like today. Contentment does not produce progress. Which is why people who don’t want progress call discontent divisive.