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
    114·
    7 months ago

    Ah, the primary centrist thought-terminating cliche. Was wondering when you were gonna use that.

    • disguy_ovahea@lemmy.world
      112·
      7 months ago

      There are countless examples of it throughout our history. Why do you believe your opinion is more credible than repeatedly proven historical evidence?

      • Ensign_Crab@lemmy.worldEnglish
        112·
        7 months ago

        There are plenty of examples of centrists fighting progress as well. Your demands that progressives shut up and be happy with deliberate failure and betrayal don’t change that.

          • Ensign_Crab@lemmy.worldEnglish
            112·
            7 months ago

            Where fighting progressives yielded success for liberals? Sure. Liberals fought progressives on the minimum wage increase and were successful.

            Congratulations on the victory over working people.

            • disguy_ovahea@lemmy.world
              112·
              7 months ago

              You’re dodging the question because it doesn’t help either group. You’ll understand when you grow up.

              • Ensign_Crab@lemmy.worldEnglish
                111·
                7 months ago

                You’re dodging the question because it doesn’t help either group.

                It helped liberals. They got what they wanted. The minimum wage didn’t increase.

                You’ll understand when you grow up.

                Ooh, the second centrist thought-terminating cliche.