Editor
In a significant move to rein in excessive fees, the Biden administration has announced plans to limit what banks can charge for late credit card payments. The Consumer Financial Protection Bureau (CFPB) proposed capping late fees at $8, a drastic reduction from the current average of $31.
“In credit cards, like so many corners of the economy today, consumers are beset by junk fees and forced to navigate a market dominated by relatively few, powerful players who control the market,” said CFPB…
“In credit cards, like so many corners of the economy today, consumers are beset by junk fees and forced to navigate a market dominated by relatively few, powerful players who control the market,” said CFPB…
