CFPB Proposes Rule to Cap Credit Card Late Fees
Account Recovery
FEBRUARY 2, 2023
The Consumer Financial Protection Bureau yesterday issued a proposed rule seeking to lower credit card late fees at $8, bring an end to the automatic inflation adjustment that occurs annually, and cap late fees at 25% of the minimum payment owed by the cardholder. The proposal would save consumers as much as $9 billion per … The post CFPB Proposes Rule to Cap Credit Card Late Fees first appeared on AccountsRecovery.net.
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