American Banker, May 13, 2024, Judge Blocks Credit Card Late Fee Rule From Taking Effect
WASHINGTON — A federal judge granted an injunction pausing the Consumer Financial Protection Bureau’s credit card late fee rule, a major setback for the bureau as it tries to bring one of President Joe Biden’s major bank policy priorities into reality.
Judge Mark Pittman of the U.S. District Court for the Northern District Of Texas issued a preliminary injunction Friday evening pausing the credit card late fee rule, just ahead of its implementation deadline May 14.
