The Market Ticker - Pay Late, No More Credit
Biden continues to do destructive things; this one is particularly nasty and I predict it will hit people immediately.
The Biden administration announced a rule Tuesday to cap all credit card late fees at $8, or about one-quarter of the average late fee of $32. It’s the latest effort from the White House to attack what it calls “junk fees,” or excessive fees that can push up the end price of products.
The Consumer Financial Protection Bureau’s new regulations will set a ceiling of $8 for most credit card late fees, or require banks to show why they should charge more than $8 for such a fee. The effort will save Americans up to $10 billion a year, the agency estimates.
Before…….
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Source: https://market-ticker.org/akcs-www?post=250871
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