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Federal judge temporarily halts Biden plan to lower credit card late fees to $8

abcnews.go.com Federal judge temporarily halts Biden plan to lower credit card late fees to $8

A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week

Federal judge temporarily halts Biden plan to lower credit card late fees to $8

cross-posted from: https://lemmy.world/post/15277052

The judge...

The temporary nationwide injunction imposed by Judge Mark Pittman in the Northern District of Texas is a win for the big banks and major credit card companies, which collect billions in revenue each year in late fees and were looking to stop the proposal from going into effect.

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