On March 7, the U.S. Chamber of Commerce and bank trade groups including the Fort Worth Chamber of Commerce, Longview Chamber of Commerce, American Bankers Association, Consumer Bankers Association, and Texas Association of Business (Plaintiffs) sued the Consumer Financial Protection Bureau (CFPB) in the United States District Court for the Northern District of Texas over its new rule to limit credit card late fees to $8 (the Final Rule). The Final Rule has not yet been published in the Federal Register but was released to the public on March 5, 2024.
CFPB Sued By Industry Over Credit Card Late Fee Rule
