Fetterman, Colleagues Introduce Legislation to Cap Credit Card Late Fees at $8
WASHINGTON, D.C. – Today, U.S. Senators John Fetterman (D-PA), Cory Booker (D-NJ), and Tammy Baldwin (D-WI) introduced the Credit Card Fairness Act, legislation that would put into statute the Consumer Financial Protection Bureau’s popular $8 cap on credit card late fees. Consumers currently pay $14 billion per year in credit card late fees, which pads the profits of the biggest banks. The standard $30 to $41 late fee is up