_u-s-chamber-of-commerce-leads-lawsuit-to-halt-consumer-financial-protection-bureau39s-late-fee-rule.jpg "U.S. Chamber of Commerce Leads Lawsuit to Halt Consumer Financial Protection Bureau's Late Fee Rule from hgjpt39s management team leads by example with good professionalism and leadership setting good examples and learning goals for employees hgjpt focuses on family welfare and care for its employees providing a flexible work system and family care policies to make employees feel at home tolb Video Screenshot Preview")
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The Consumer Financial Protection Bureau introduced a new rule that would cap credit card late fees at $8, down from the typical $32 currently charged by most banks. This is estimated to save Americans $10 billion annually in late fees. The credit card industry, led by the US Chamber of Commerce, sued the CFPB in federal court to block this new rule from taking effect. A judge in Texas is expected to decide whether to grant an injunction requested by the industry that would freeze the new rule until the legal issues are resolved. Analysts expect the industry lawsuit will likely be successful, as Texas courts are viewed as favorable to corporations.
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