The U.S. sharply limits how much credit cards can charge you in late fees
The Consumer Financial Protection Bureau issued a new rule Tuesday capping late fees on credit cards, a move designed to save customers an estimated $10 billion a year. Critics promised a lawsuit.
The cost of a late payment on your credit card could soon be going down.
Federal regulators issued a new rule Tuesday capping credit card late fees at $8, down from the current average of $32. The move is expected to save customers an estimated $10 billion a year.
Consumer advocates praised the measure as providing welcome relief for millions of credit
