News@lemmy.world · 10 months ago

Credit card late fees capped at $8 under Biden crackdown on 'junk fees'

www.usatoday.com

118

877

Credit card late fees capped at $8 under Biden crackdown on 'junk fees'

www.usatoday.com

return2ozma@lemmy.world to

News@lemmy.world · 10 months ago

118

The Biden administration finalized a rule Tuesday that will close a loophole to slash fees charged by companies from an average of $32 to $8.

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  It’s not guaranteed because a lot of people default of their loans.
  
  And collateral can lose value after the loan is issued.

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