Credit card debt

A proposed limit on credit card late fees could eventually help consumers burdened by credit card debt and inflation. (Photo by Joe Raedle/Getty Images)

Proposed federal rule would lower credit card late fees

BY: - February 6, 2023

As Americans continue to struggle with high credit card rates, the Consumer Financial Protection Bureau has proposed a rule to help lessen some of their financial burden — in the form of lower late fees.  The new rule would limit late fees to $8. Currently credit card companies can charge as high as $41 — […]