A federal judge just scrapped a rule that capped credit card late fees at $8, down from over $30. This reverses a move made under the Biden administration last year.

A federal judge in Texas tossed a former President Biden-era Consumer Financial Protection Bureau (CFPB) rule that capped credit card late fees at $8 after both sides on the issue agreed that it ...

More: Credit card late fees capped at $8 under Biden crackdown on 'junk fees' The rule capped late fees for issuers with more than 1 million open accounts unless they could prove higher fees were ...

The Brief. A rule to cap credit card late fees will not take effect following a court ruling by a Texas judge. Banks and industry groups sued to stop the Biden-era late fee rule, due to the ...

A federal judge just scrapped a rule that capped credit card late fees at $8, down from over $30. This reverses a move made under the Biden administration last year.

It had been part of Biden's crackdown on "junk fees," and was intended to reduce the typical late fee from about $32. The Trump administration is reversing many Biden-era rules and policies that ...