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News@lemmy.world · 11 months ago

Billions are on the line for lenders as White House finalizes credit card late fee cap of $8

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Billions are on the line for lenders as White House finalizes credit card late fee cap of $8

return2ozma@lemmy.world to

News@lemmy.world · 11 months ago

Billions are on the line for lenders as White House finalizes credit card late fee cap

The Consumer Financial Protection Bureau is facing banks, credit unions and credit card companies in its push to limit late fees.

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AeroLemming@lemm.ee
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11 months ago
Compound interest is a ridiculous idea. When you get a loan, you should only owe a flat % on top of the loan amount. This % should be negotiated ahead of time based on the repayment schedule.

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