Tue, December 10, 2024
[ Tue, Dec 10th 2024 ]: Finance & Commerce
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[ Tue, Dec 10th 2024 ]: Construction Week Online
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[ Tue, Dec 10th 2024 ]: abp LIVE
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[ Tue, Dec 10th 2024 ]: Business Insider
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[ Tue, Dec 10th 2024 ]: AOL
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[ Tue, Dec 10th 2024 ]: Business Standard
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[ Tue, Dec 10th 2024 ]: The Hans India
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[ Tue, Dec 10th 2024 ]: The Daily Star
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[ Tue, Dec 10th 2024 ]: McKnight's Senior Living
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[ Tue, Dec 10th 2024 ]: Yahoo Finance
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[ Tue, Dec 10th 2024 ]: moneycontrol.com
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[ Tue, Dec 10th 2024 ]: Reuters
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[ Tue, Dec 10th 2024 ]: Forbes
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[ Tue, Dec 10th 2024 ]: MSN
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[ Mon, Dec 09th 2024 ]: Business Today
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[ Mon, Dec 09th 2024 ]: KOLR10 & Ozarks Local News
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[ Mon, Dec 09th 2024 ]: The New Zealand Herald
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[ Mon, Dec 09th 2024 ]: USA Today
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[ Mon, Dec 09th 2024 ]: 24/7 Wall St
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[ Mon, Dec 09th 2024 ]: CBS News
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[ Mon, Dec 09th 2024 ]: Global Finance
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[ Mon, Dec 09th 2024 ]: Charlotte Observer
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[ Mon, Dec 09th 2024 ]: Crain's Chicago Business
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[ Mon, Dec 09th 2024 ]: Yahoo Finance
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[ Mon, Dec 09th 2024 ]: BBC
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[ Mon, Dec 09th 2024 ]: Reuters
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[ Mon, Dec 09th 2024 ]: Business Insider
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[ Mon, Dec 09th 2024 ]: Daily Monitor
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[ Mon, Dec 09th 2024 ]: MSN
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U.S. judge rejects rule capping credit card late fees at $8

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
The regulation would prevent card issuers with more than one million users from charging more than $8 for late fees unless they could prove to the Consumer Financial Protection Bu
A U.S. judge has rejected a new rule by the Consumer Financial Protection Bureau (CFPB) that aimed to cap credit card late fees at $8, a decision that maintains the status quo for credit card companies. This rule was part of broader efforts to reduce the financial burden on consumers, potentially saving them up to $10 billion annually. However, the ruling, which came from the U.S. District Court for the Northern District of Texas, sided with arguments from banks and credit card companies, asserting that the CFPB overstepped its authority. Critics of the rule argued that it would lead to increased interest rates or reduced credit availability as companies sought to recoup lost revenue from late fees. The decision has sparked a debate on consumer protection versus the financial industry's operational freedom, with potential implications for future regulatory actions by the CFPB.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/personalfinance/u-s-judge-rejects-rule-capping-credit-card-late-fees-at-8/ar-AA1vy39C ]