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The new rule would apply to large credit card issuers — those with more than 1 million accounts. These companies represent more than 95% of total outstanding credit card debt, according to the CFPB.
The Consumer Financial Protection Bureau (CFPB) finalized a rule Tuesday to limit late payment fees issued by credit card companies, a move the agency says will reduce the typical fee by 75 ...
A federal judge said she's not likely to approve the $30 billion settlement between the payment processing giants Visa and Mastercard and the merchants who say they've overpaid on swipe fees. Visa ...
The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards. The suit was filed because of price fixing and other allegedly anti-competitive trade ...
Under the terms of the settlement rejected by the judge, card issuers would've lowered the typical 1.5% to 3.5% swipe fee by 0.04 percentage points for three years, capped fees for five years and ...
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 ...
Credit card late fees will now be capped at $8 thanks to a new rule instated by the Consumer Financial Protection Bureau (CFPB). Starting Tuesday, May 14, large card issuers can't charge you more ...
The Consumer Financial Protection Bureau finalized a rule limiting credit card late fees to $8. The move could save 45 million people an average $220 per year on late fees.