CFPBs Cap on Credit Card Late Fees Will Raise Fees Elsewhere, Least Creditworthy May Lose Access to Cards
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