A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week

The judge…

The temporary nationwide injunction imposed by Judge Mark Pittman in the Northern District of Texas is a win for the big banks and major credit card companies, which collect billions in revenue each year in late fees and were looking to stop the proposal from going into effect.

  • snekerpimp@lemmy.world
    521·
    6 months ago

    “How could you even think of starving these poor, little corporations the very necessary income those late fees bring. Think of the poor CEOs not able to even afford a second yacht.”