_u-s-chamber-of-commerce-leads-lawsuit-to-halt-consumer-financial-protection-bureau39s-late-fee-rule.jpg "U.S. Chamber of Commerce Leads Lawsuit to Halt Consumer Financial Protection Bureau's Late Fee Rule from consumers energy logo Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:47
👁 View: 380K times
✓ Published: 11-May-2024
👁 View: 380K times
✓ Published: 11-May-2024
Description:
The Consumer Financial Protection Bureau introduced a new rule that would cap credit card late fees at $8, down from the typical $32 currently charged by most banks. This is estimated to save Americans $10 billion annually in late fees. The credit card industry, led by the US Chamber of Commerce, sued the CFPB in federal court to block this new rule from taking effect. A judge in Texas is expected to decide whether to grant an injunction requested by the industry that would freeze the new rule until the legal issues are resolved. Analysts expect the industry lawsuit will likely be successful, as Texas courts are viewed as favorable to corporations.
The Consumer Financial Protection Bureau introduced a new rule that would cap credit card late fees at $8, down from the typical $32 currently charged by most banks. This is estimated to save Americans $10 billion annually in late fees. The credit card industry, led by the US Chamber of Commerce, sued the CFPB in federal court to block this new rule from taking effect. A judge in Texas is expected to decide whether to grant an injunction requested by the industry that would freeze the new rule until the legal issues are resolved. Analysts expect the industry lawsuit will likely be successful, as Texas courts are viewed as favorable to corporations.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_us-lags-behind-renewables-as-countries-worldwide-hit-major-turning-point.webp "A global report indicates that 2023 likely saw the peak of electricity generation and greenhouse gas emissions from fossil fuel-fired power plants, a significant shift as renewables now account for 30% of global electricity. Electricity from fossil fuels is projected to decline by 2% in 2024 and continue falling long-term as the renewable transition accelerates. However, without the US, global gas use for electricity would have declined in 2023, but the US significantly ramped up gas generation.")
_the-new-jeep-avenger-e-hybrid-infotainment-system.webp "Boasting exceptional driving capabilities while also ensuring reduced CO2 emissions, the new Jeep Avenger e-Hybrid, driven by its innovative 48 Volt hybrid engine, further advances the Jeep brand's trailblazing journey into electrification.<br/><br/>The engine powering the new Avenger e-Hybrid represents the highest level of technological achievement, delivering both comfort and performance. With this state-of-the-art technology, the new Avenger e-Hybrid delivers an exceptionally smooth driving experience, enabling fortunate journalists to embrace electric mobility at lower speeds. This is made possible through the integration of the automatic 6-speed e-DCS6 dual-clutch transmission with its integrated electric engine.<br/><br/>The route retraces the double soul of the Avenger: at ease both on road and offroad. On the one hand, the on-road route allows the driver to try the hybrid features (energy recovery & electric drive at low speed) and the tech features such as L2 assisted driving. <br/><br/>The new Avenger e-Hybrid has been designed to be the first entry point into electrification. It employs a powertrain based on a lightweight 48V Hybrid system capable of delivering a nearly complete hybrid experience. A 100hp internal combustion engine coupled with a 21kw electric motor is then integrated into a double-clutch 6-speed automatic transmission and a 48V Belt Starter for a smooth transition to the electric drive that also produces further CO2 savings. The 0.9 kWh lithium-ion battery is located under the driver's seat, with no impact on the interior space, which remains the same as that of the Avenger petrol.<br/>The entire 48V hybrid system weighs only 60 kg more than a conventional automatic transmission. This keeps the total weight of the new Avenger e-Hybrid to just 1280 kg.")
_is-your-airline-rewards-card-costing-you-more-officials-debate-need-for-new-regulations-on-credit-card-reward-and-airlin.webp "The Consumer Financial Protection Bureau and the Department of Transportation held a joint hearing to discuss whether new regulations are needed for credit card reward programs and airline loyalty programs. Officials argue that for many consumers, the high fees and interest charged on travel rewards credit cards outweigh the value of the rewards and perks earned. Airline-branded credit cards can be much costlier than average cards, with annual fees as high as $650 and interest rates averaging more than 25% compared to no annual fees and about 24% for most cards. Loyalty programs are major revenue generators for airlines, with Delta earning $6.5 billion and Americans expecting 80% of revenue from loyalty members.")
_bp-reveals-a-fall-in-profits-in-the-face-of-lower-oil-prices.webp "Energy giant BP has revealed a fall in profits in the face of lower oil prices and weaker refining margins than this time last year.")
_supercross-450sx-salt-lake-city-2024.webp "Please watch our other videos and FOLLOW us for more. Thank you!<br/><br/>\")
_trump-reportedly-seeks-361b-in-campaign-funds-from-exxon-mobil-chevron-other-big-oil-execs-expert-calls-it-39shocking39.webp "Former President Donald Trump has reportedly asked oil industry executives to contribute $1 billion to his campaign for the White House. This request, while controversial, is likely legal, according to industry experts.<br/>The executives present represented companies like Exxon Mobil, Chevron, Continental Resources, EQT, and Cheniere Energy, as well as the American Petroleum Institute, as per the report."){kind=icon}
_senate-approves-36105-billion-bill-to-enhance-air-travel-safety-and-customer-service.webp "The Senate passed a 105 billion dollar bill to improve air travel safety and customer service before the law governing the FAA expired. The bipartisan bill aims to increase air traffic controllers, improve safety standards, and make it easier for customers to get refunds for delayed and canceled flights. The bill addresses FAA oversight, requires new safety technology to prevent collisions, mandates cockpit voice recorders, and improves accessibility. It also requires airlines to pay refunds for long delays, prohibits fees for families sitting together, and increases fines for consumer law violations. The House will consider the bill next week.")
_house-committee-on-energy-and-commerce-holds-a-hearing-on-39accusations-of-ideological-bias-at-npr39.webp "The House Committee on Energy and Commerce held a hearing on Wednesday on the 'accusations of ideological bias at NPR'. <br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com")
⏲ 2:2:16 👁 510K
_us-lags-behind-renewables-as-countries-worldwide-hit-major-turning-point.jpg)
_the-new-jeep-avenger-e-hybrid-infotainment-system.jpg)
_is-your-airline-rewards-card-costing-you-more-officials-debate-need-for-new-regulations-on-credit-card-reward-and-airlin.jpg)
_bp-reveals-a-fall-in-profits-in-the-face-of-lower-oil-prices.jpg)
_supercross-450sx-salt-lake-city-2024.jpg)
_trump-reportedly-seeks-361b-in-campaign-funds-from-exxon-mobil-chevron-other-big-oil-execs-expert-calls-it-39shocking39.jpg){kind=icon}
_senate-approves-36105-billion-bill-to-enhance-air-travel-safety-and-customer-service.jpg)
_house-committee-on-energy-and-commerce-holds-a-hearing-on-39accusations-of-ideological-bias-at-npr39.jpg)
![[+]](/images/menu.gif){kind=small}