Trump is bringing back higher credit card late fees

Get the Full StoryA Biden-era rule capped late fees at 8. The Trump administration s CFPB asked a federal judge to terminate that rule, bringing back the 41 maximum.

A year ago, the Consumer Financial Protection Bureau CFPB put a limit on how much credit card companies could charge consumers for late payments. On Tuesday, the Trump administration quashed that limit, opening the door for financial institutions to once again gouge late-paying customers.

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