Late Fees Lawsuit Transferred from Texas to Washington – Major Win for CFPB
Houston, Texas – A federal judge in Texas has leveled accusations against major banking industry groups and the U.S. Chamber of Commerce for engaging in venue shopping in their lawsuit against the Consumer Financial Protection Bureau. The lawsuit at hand revolves around the CFPB’s new regulations regarding credit card late fees, where the average late fee for customers would be limited to $8, a decrease from the previous average of $32. The major banking groups …