Banking Groups Oppose CFPB’s Proposed Changes to Credit Card Late Fee Safe Harbor
Bankers are gearing up to oppose an effort by the Consumer Financial Protection Bureau (CFPB or Bureau) to prevent an increase in allowable late charges for credit cards. In letters dated August 1, the American Bankers Association, Consumer Bankers Association, Credit Union National Association, and National Association of Federally ‐ Insured Credit Unions (Associations), as …
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