Late Fees Limit Blocked: Federal Judge Halts U.S. Government from Imposing Caps, Banks Celebrate Victory
Miami, Florida – A federal judge in Miami, Florida has issued a temporary block on the U.S. government’s plan to restrict credit card late fees. The decision follows a legal challenge from banks and business groups who argued that the policy was unconstitutional. The planned cap on penalties for late credit card payments was scheduled to come into effect next week, promising financial relief for many Americans struggling to keep up with their bills. However, …