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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.
June 28, 2024 at 7:15 AM. A federal judge recently rejected an antitrust settlement between Visa (NYSE: V), Mastercard (NYSE: MA), and merchants over interchange, or swipe, fees. The proposed ...
A federal appeals court ruled on Friday that a Texas judge wrongly transferred to another court in Washington, D.C., an industry-backed lawsuit challenging an agency rule on credit card late fees ...
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 ...
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 ...
March 5, 2024 at 2:21 PM. Poike/iStockphoto/Getty Images. Federal regulators finalized a rule on Tuesday to cap most credit card late fees at $8 as part of a broader push by the Biden ...
The CFPB announced that it will close a loophole that costs Americans more than $14 billion per year in late fees on their credit ... Those amounts have risen to $30-$41 to account for inflation ...