“Large card issuers” are now subject to a much lower safe harbor amount for penalty fees and restrictions on fees for subsequent violations to ensure that late fees they charge are “reasonable and proportional” as […]
A proposal issued Feb. 1 aimed at better ensuring that late fees charged on credit card accounts are “reasonable and proportional” – for example, capped at $8 for late credit card payments – has a […]
Fees would be capped at $8 for credit card payments made late, and an annual inflation adjustment would be eliminated, under a proposal issued Wednesday by the federal consumer financial protection agency. The advance notice […]
Anyone wishing to comment on the federal consumer financial protection agency’s advance notice of proposed rulemaking (ANPR) on credit-card late fees has an additional 10 days from the original comment deadline, according to a notice […]
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