Good News Delayed...Federal Judge (Temporarily) Blocks Biden Plan to Limit Credit Card Late Fees

[candycorn]

Federal judge temporarily halts Biden plan to lower credit card late fees to $8

A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week

abcnews.go.com

From the piece:

"A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week.

The temporary nationwide injunction imposed by Judge Mark Pittman in the Northern District of Texas is a win for the big banks and major credit card companies, which collect billions in revenue each year in late fees and were looking to stop the proposal from going into effect. It is also a win for the U.S. Chamber of Commerce, which led the lawsuit on behalf of the banks."

I really have to wonder how they came up with $8.00. Why not $10? Why not $5? CC late fees are ridiculous.

It is good to see Biden doing another thing that will help millions of Americans. Last month he changed the rules to force airlines to give cash refunds (not future flight credits). The GOP opposed it. We’ll see if they line up on the side of banks as they did with airlines.

Thanks Joe.

 

[excalibur]

Federal judge temporarily halts Biden plan to lower credit card late fees to $8

A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week

abcnews.go.com

From the piece:

"A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week.

The temporary nationwide injunction imposed by Judge Mark Pittman in the Northern District of Texas is a win for the big banks and major credit card companies, which collect billions in revenue each year in late fees and were looking to stop the proposal from going into effect. It is also a win for the U.S. Chamber of Commerce, which led the lawsuit on behalf of the banks."

I really have to wonder how they came up with $8.00. Why not $10? Why not $5? CC late fees are ridiculous.

It is good to see Biden doing another thing that will help millions of Americans. Last month he changed the rules to force airlines to give cash refunds (not future flight credits). The GOP opposed it. We’ll see if they line up on the side of banks as they did with airlines.

Thanks Joe.

Joe Biden, Dictator.

 

[struth]

If you borrow money you should pay it back. If you don’t, you should expect the lender to penalize you

 

[progressive hunter]

Federal judge temporarily halts Biden plan to lower credit card late fees to $8

A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week

abcnews.go.com

From the piece:

"A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week.

The temporary nationwide injunction imposed by Judge Mark Pittman in the Northern District of Texas is a win for the big banks and major credit card companies, which collect billions in revenue each year in late fees and were looking to stop the proposal from going into effect. It is also a win for the U.S. Chamber of Commerce, which led the lawsuit on behalf of the banks."

I really have to wonder how they came up with $8.00. Why not $10? Why not $5? CC late fees are ridiculous.

It is good to see Biden doing another thing that will help millions of Americans. Last month he changed the rules to force airlines to give cash refunds (not future flight credits). The GOP opposed it. We’ll see if they line up on the side of banks as they did with airlines.

Thanks Joe.

whats wrong with a judge stopping a fascist from doing fascist things??

 

[Vastator]

whats wrong with a judge stopping a fascist from doing fascist things??

These are the same scum who try to convince everyone that Joe's economy is great. If so; why do people need the government to intervene on behalf of their debts?

 

[two_iron]

That stammering shit clown worked for the credit card companies for 5 decades, fucking Americans to their knees. This is a wink and a nod to buy a few more votes. The desperation is palpable.

Didn't that bed-shitting vegetable just get 81 Million votes.... the most in history?

 

[blackhawk]

Your debt your responsibility.

 

[Polishprince]

What makes you think that this will help "millions" of Americans at all?

It will just make it harder for those with crappier credit to get a credit card at all or get an increased limit. And it will make it more frequent for banks to revoke their cards.

Sure, these late fees are a pain in the keister, however, its easy enough to avoid them. It isn't like you have to mail in a check and count on the post office or anything.

 

[candycorn]

To the surprise of no-one..the conservatives are all in favor of high late fees for credit cards.

Its truly comical.

 

[struth]

To the surprise of no-one..the conservatives are all in favor of high late fees for credit cards.

Its truly comical.

Might be cause it doesn’t impact them since they pay their bills on time

 

[EvilCat Breath]

These changes that fuckwad Biden makes are blatantly unconstitutional! He needs to be stopped.

 

[candycorn]

These changes that fuckwad Biden makes are blatantly unconstitutional! He needs to be stopped.

There is something in the constitution about exorbitant credit card late fees?

 

[candycorn]

Might be cause it doesn’t impact them since they pay their bills on time

Meanwhile back in reality your patron saint has filed bankruptcy 6 times. This is the part where you insist he had nothing to do with his companies going belly up

 

[struth]

Meanwhile back in reality your patron saint has filed bankruptcy 6 times. This is the part where you insist he had nothing to do with his companies going belly up

He’s not the one whining about late credit card fees

 

[candycorn]

He’s not the one whining about late credit card fees

No, that would be you. Biden is doing something about exorbitant fees.

 

[struth]

No, that would be you. Biden is doing something about exorbitant fees.

Xiden’s trying to bailout dembot deadbeats that can’t handle their personal finances

 

[EvilCat Breath]

There is something in the constitution about exorbitant credit card late fees?

There is something in the Constitution about contracts. You know that the credit card agreement is really a contract. They didn't fool you, did they?

 

[EvilCat Breath]

Meanwhile back in reality your patron saint has filed bankruptcy 6 times. This is the part where you insist he had nothing to do with his companies going belly up

Not even one time.

This isn't a good day for you.

No, that would be you. Biden is doing something about exorbitant fees.

Yes. Act like a dictator.

 

[Polishprince]

There is something in the constitution about exorbitant credit card late fees?

There is nothing in the Constitution that gives the President the unilateral authority to change any contract.

 

[Crepitus]

Federal judge temporarily halts Biden plan to lower credit card late fees to $8

A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week

abcnews.go.com

From the piece:

"A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week.

The temporary nationwide injunction imposed by Judge Mark Pittman in the Northern District of Texas is a win for the big banks and major credit card companies, which collect billions in revenue each year in late fees and were looking to stop the proposal from going into effect. It is also a win for the U.S. Chamber of Commerce, which led the lawsuit on behalf of the banks."

I really have to wonder how they came up with $8.00. Why not $10? Why not $5? CC late fees are ridiculous.

It is good to see Biden doing another thing that will help millions of Americans. Last month he changed the rules to force airlines to give cash refunds (not future flight credits). The GOP opposed it. We’ll see if they line up on the side of banks as they did with airlines.

Thanks Joe.

Gotta wonder how many "fishing trips" he's been on with republican billionaires.