Credit card late fees capped at $8 as part of Biden administration crackdown on junk fees | CNN Business
Credit card late fees being capped at $8 as part of the Biden administration’s crackdown on what they refer to as “junk fees” is definitely a step in the right direction. Many people, especially those who are struggling financially, often find themselves caught in a vicious cycle of debt due to exorbitant late fees charged by credit card companies. These fees, which can sometimes be as high as $25 or $30, only serve to deepen the financial burden on those who are already facing challenges in managing their finances.
It is heartening to see the government taking action to protect consumers from these unfair practices.… Continue reading
John Q. Hosedrinker