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2. Biden administration slashes credit card late fees to $8 ...

   www.aol.com/finance/biden-administration-slashes...

   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.

3. Credit CARD Act of 2009 - Wikipedia

   en.wikipedia.org/wiki/Credit_CARD_Act_of_2009

   The Consumer Financial Protection Bureau in its October 2013 report on the CARD Act found that between the first quarter of 2009 and December 2012, credit card interest rates increased on average from 16.2% to 18.5%, while the “total cost of credit,” that is, the total of all fees and interest paid by all consumers as a percentage of the ...

4. Much-talked-about $8 late fee on credit cards hits ... - AOL

   www.aol.com/much-talked-8-fee-credit-110524245.html

   The rule — and a new $8 late fee — was on course to go into effect Tuesday. President Joe Biden highlighted eliminating or limiting "junk fees, " including late fees on credit cards, in his ...

5. Biden admin cements new rule to limit credit card late fees

   www.aol.com/biden-admin-cements-rule-limit...

   The CFPB found that credit card fees have been going up since 2009 when credit card laws were overhauled in the CARD Act. In 2022, credit card companies charged consumers an all-time high of $130 ...

6. Durbin amendment - Wikipedia

   en.wikipedia.org/wiki/Durbin_amendment

   The Durbin amendment, implemented by Regulation II, [1] is a provision of United States federal law, 15 U.S.C. § 1693o-2, that requires the Federal Reserve to limit fees charged to retailers for debit card processing. It was passed as part of the Dodd–Frank financial reform legislation in 2010, as a last-minute addition by Dick Durbin, a ...

7. Smiley v. Citibank (South Dakota), N. A. - Wikipedia

   en.wikipedia.org/wiki/Smiley_v._Citibank_(South...

   Smiley v. Citibank, 517 U.S. 735 (1996), is a U.S. Supreme Court decision upholding a regulation of the Comptroller of Currency which included credit card late fees and other penalties within the definition of interest and thus prevented individual states from limiting them when charged by nationally-chartered banks.

8. Will CFPB’s $8 cap on credit card late fees encourage late ...

   www.aol.com/finance/cfpb-8-cap-credit-card...

   March 7, 2024 at 3:22 PM. On March 5, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rule capping credit card late payment fees at $8 for the biggest card issuers after inviting ...

9. Regulator would cap credit card late fees at $8, part of ...

   www.aol.com/news/regulator-proposes-capping...

   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 ...