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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.
At issue is a rule that would block card issuers with more than 1 million open accounts from charging more than $8 for late fees, unless they could prove higher fees are necessary to cover...
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 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 CFPB has finalized a rule it proposed last year and will cap credit card late fees for the largest card issuers at $8.
Zazzle is an American online marketplace that allows designers and customers to create their own products with independent manufacturers (clothing, posters, etc.), as well as use images from participating companies.