Credit: volff/Adobe Stock Regulator's Proposed $8 Cap on Credit Card Late Fees Ignites Howls of Overreach
President Biden for months has been blasting "junk fees." So the industry expected a proposal. But what came is "far more radical than anyone anticipated," Ballard Spahr wrote in a client advisory.
July 20, 2023 at 07:14 AM
6 minute read
Financial Services and Banking
A federal agency's plan to cap credit card late fees at $8 has outraged the financial services industry and further stirred up critics who assert that the Biden administration's regulatory zeal has gone off the rails.
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