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

    • UnderpantsWeevil@lemmy.world
      210·
      6 months ago

      good things the left-wing is trying to pass that the right-wing is stopping

      When you can pass bills that can TikTok from the minority by stapling them to foreign military aid, but you can’t expand Medicare or sanction polluters or secure women’s rights to health care or enfranchise DC voters…

      This isn’t “the right just sabotaged us!” it’s “the moderates just sided with reactionaries again”.

      Caps on credit card fees? Left proposed, right killed.

      So much of this boils down to Dems green lighting GOP judicial nominees while Repubs block Dem nominees without consequences.

      What is the remedy for this obstruction other than to scream “Vote or things will get worse!” every two years?

      The Dens won’t pack the court. They won’t use our majorities when we have them. They won’t stop giving their economic rivals tons of free money. They won’t stop sending cops into university campuses to crack heads.

      Throwing up a rule so a Trump judge can skeet shoot it isn’t “doing anything” when you already know the outcome.