A federal judge has overturned a U.S. Consumer Financial Protection Bureau (CFPN) rule that capped credit card late fees at $8.
The judge found the Biden-era policy to be illegal and threw it out on Tuesday.
U.S. District Judge Mark Pittman in Fort Worth, Texas granted a joint request by the CFPB and a coalition of business and banking groups including the U.S. Chamber of Commerce and American Bankers Association to scrap the rule.
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