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Credit card late fees will now be capped at $8 thanks to a new rule instated by the Consumer Financial Protection Bureau (CFPB). Starting Tuesday, May 14, large card issuers can't charge you more ...
On March 5, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rule capping credit card late payment fees at $8 for the biggest card issuers after inviting public comment on the ...
Federal regulators finalized a rule on Tuesday to cap most credit card late fees at $8 as part of a broader push by the Biden administration to eliminate junk fees.
The Consumer Financial Protection Bureau's new regulations will set a ceiling of $8 for most credit card late fees or require banks to show why they should charge more than $8 for such a fee. The rule would bring the average credit card late fee down from $32. The bureau estimates banks brought in roughly $14 billion in credit card late fees a ...
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.
The Consumer Financial Protection Bureau's new regulations will set a ceiling of $8 for most credit card late fees, or require banks to show why they should charge more than $8 for such a fee. The rule would bring the average credit card late fee down from $32. The bureau estimates banks brought in roughly $14 billion in credit card late fees a ...