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.

  • circuscritic
    910·
    6 months ago

    Vote for whoever you want.

    My responses were directed at people commenting, unprompted, about how anyone who doesn’t support Biden, or buy into his campaign messaging, are either closeted Trump supporters, tankies, or (my personal favorite) foreign socket puppet accounts i.e. Russian bots.

    Because obviously they can’t be lifelong Democrats who are fed up with current Democratic establishment and see the threat they pose if left unchanged - precisely because we NEED an actual strong leftwing workers party to stand against the GOP.

    So, again, you do whatever your conscience tells you.

    If your comfortable with a Democratic party that is already fully run by neoliberals, crushes leftists, and only moves further to the right each election, then keep supporting them. That’s on you.

    Myself, I am going to see which option the Democrats are MOST concerned with i.e. uncommitted vs blank vs a specific 3rd party candidate.

    I will also continue to support most of my local and statewide progressive candidates, because I do care, and I’m not whatever fantasy the Biden supporters have concocted so they can dismiss people like me without giving these idea any real thought.