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US CFPB's 2024 credit-card late fee rule illegal, US judge rules

By Neil Roland ( April 15, 2025, 21:17 GMT | Insight) -- A Texas federal court vacated a 2024 US Consumer Financial Protection Bureau rule capping credit-card late fees at $8, handing a victory to banking and business groups. The Trump administration’s CFPB and the US Chamber of Commerce had jointly filed the suit in the Northern District of Texas challenging the Biden-era rule. US District Judge Mark Pittman held that the rule violated the 2009 Credit Card Accountability and Disclosure Act because it barred card issuers from charging fees “reasonable and proportional to violations.”A Texas federal court vacated a 2024 US Consumer Financial Protection Bureau rule capping credit-card late fees at $8, handing a victory to banking and business groups....

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