Judge blocks Biden administration rule capping credit card late fees at $8 | CNN Business
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A federal judge in Fort Worth, Texas, on Friday blocked a new Biden administration rule that would prohibit credit card companies from charging customers late fees higher than $8.

A federal judge in Fort Worth, Texas, on Friday blocked a new Biden administration rule that would prohibit credit card companies from charging customers late fees higher than $8.

US District Judge Mark T. Pittman, an appointee of former President Donald Trump, granted a preliminary injunction to several business and banking organizations that allege the new rule violates several federal statutes.

These organizations, led by the right-leaning US Chamber of Commerce, sued the Consumer Financial Protection Bureau after the rule was finalized in March. The rule, which was set to go into effect Tuesday, would save consumers about $10 billion per year by cutting fees from an average of $32, the CFPB estimated.

  • GiddyGap
    9115·
    1 month ago

    Yeah, because Donny will surely stand up for Gaza much more than Joe ever did…

    • Flying Squid@lemmy.world
      6911·
      1 month ago

      They don’t like it when you point out that Trump moved the U.S. embassy to Jerusalem, tacitly declaring it to belong wholly to Israel. He’s made it very clear what he thinks about Palestine.

    • Delusional@lemmy.world
      195·
      1 month ago

      And you know 100% that if Biden was against Israel and supported Gaza, they’d bitch and complain and say Biden supports terrorists. Bad faith arguments across the board coming from those worthless shitstains.