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CFPB $8 late fee cap edges toward reality

Payments Dive

Despite an industry-backed lawsuit seeking to stop the Consumer Financial Protection Bureau’s new $8 late fee rule, bank card issuers are bracing for potential implementation.

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CFPB attacks credit card late fees

Payments Dive

The Consumer Financial Protection Bureau proposed a new rule that would effectively cap credit card late fees and potentially save Americans $9 billion.

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CFPB will keep defending late fee cap

Payments Dive

The 5th Circuit Court of Appeals blocked the Consumer Financial Protection Bureau’s $8 late fee cap on Friday, but the federal agency said it will continue to “defend” the rule.

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Synchrony, Bread plan offsets to late fee cap

Payments Dive

“I want that shoe to drop so we can start mitigating that issue,” Bread CEO Ralph Andretta said last week, as the industry awaits the CFPB’s final rule.

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US Judge throws out CFPB's cap on credit card late fees

Finextra

A US judge has killed of a Consumer Financial Protection Bureau rule capping credit card late fees at $8.

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Synchrony braces for late fee rule

Payments Dive

The CEO of the private label card issuer expects a final rule on the CFPB’s proposed credit card late fee cap later this year, and litigation could follow, he said.

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Texas Judge Throws Out Rule That Would Have Capped Credit Card Late Fees

The Nilson Report

The post Texas Judge Throws Out Rule That Would Have Capped Credit Card Late Fees appeared first on Nilson Report.

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