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The 2005 controversy came after a related lawsuit settled in 2002 in Texas. That lawsuit, alleging exorbitant late fees, led the company to pay $9.25 million in attorney fees and offer $450 million in late fee refund coupons (which were rent-one get-one-free coupons, and thus required the customer to make an initial expenditure).
A late fee, also known as an overdue fine, late fine, or past due fee, is a charge fined against a client by a company or organization for not paying a bill or returning a rented or borrowed item by its due date.
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MoviePass, Inc. is an American subscription-based movie ticketing service [2] [3] owned by co-founder Stacy Spikes. [4]The service was launched in 2011 and allowed subscribers to purchase up to a movie ticket a day for a monthly fee. [5]
The Consumer Financial Protection Bureau finalized a rule limiting credit card late fees to $8. The move could save 45 million people an average $220 per year on late fees.