GOOD NEWS: Credit Card LATE FEES Limited to $8 Under New Federal Rule!

from Tax Relief with Logan Allec, CPA · host Logan Allec

Today, the Consumer Financial Protection Bureau (CFPB) announced that it is banning excessive credit card late fees, lowering the typical fee from $32 to $8. The rule that the CFPB finalized today will close a 2010 loophole exploited by credit card companies to charge consumers as much as $41 for a single late fee. This CFPB rule, however, is expected to face significant challenges from Republican lawmakers as well as corporate interests. Learn more about what this means for you in this episode.

Episode metadata supplied by the publisher feed · Published Mar 6, 2024

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GOOD NEWS: Credit Card LATE FEES Limited to $8 Under New Federal Rule!

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