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.

  • spidermanchild
    1·
    6 months ago

    I’m not trying to convince you, I’m offering a counterpoint to the other 3 people that might read this and otherwise think your strategy goes without question. I just don’t understand how you can support a bunch of progressives that largely, if not exclusively, vote for Biden/Hillary as needed, seemingly agreeing with them in everything except this critical point where they make obviously correct choices to vote for least harm. Why wouldn’t you just listen to their reasoning? What makes you think you’re right on this?

    The reason things get shittier is because shitty people like Bush and Trump get elected. The way to defeat them is to actually defeat them, not let them win and hope for a progressive uprising. I don’t see how moving backwards helps you move forwards, that’s all.