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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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Artyom@lemm.ee
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11 months ago
Should be 0. If you’re late on a payment, you pay compounding interest. The idea that you can somehow charge a fee on top of that is absolutely insane.

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