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 judge…

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.

  • cerothem@lemmy.caEnglish
    0·
    6 months ago

    Well just hold on there a minute, if they raise interest or charge higher fees on things that doesn’t disproportionately negatively impact poor people then it might be less predatory… And we can’t have that, we gotta keep punching those that can’t hit back.