CFPBs Cap on Credit Card Late Fees Will Raise Fees Elsewhere, Least Creditworthy May Lose Access to Cards
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This past week, the Consumer Financial Protection Bureau (CFPB) finalized its rules on credit late fees by reducing the legal lime to $8 from a typical fee of $32. The CFPB said that an average saving per year for consumers would be around $220, as… Read More
Read more in: Fintech, Politics, Legal & Regulation | Tagged cfpbs, consumer financial protection bureau, credit cards, michal selbka, rohit chopra, s&p global