Late Fees Slashed by Judge: Controversial Credit Card Rule Blocked by Texas Court
Dallas, Texas – A federal judge in Texas has issued an injunction blocking a new government rule aimed at reducing credit card late-payment charges, which was set to take effect on May 14. Judge Mark Pittman of the U.S. District Court for the Northern District of Texas granted the injunction sought by the banking industry and other business interests. Pittman’s decision came after the U.S. Court of Appeals for the Fifth Circuit deemed the funding …