A coalition of pro-growth groups are calling on the Biden administration to withdraw its credit card late fees rule, arguing the regulation will hurt responsible consumers.
A coalition of groups is calling for the Biden administration to withdraw the new rule put forward by the Consumer Financial Protection Bureau to impose a stricter cap on credit card late fees, arguing the regulation will hurt consumers and economic growth. In a letter sent to President Biden and CFPB Director Rohit Chopra, as well as Congress’ banking, financial services and small business committees, the 30 signatory groups outlined their "strong opposition" to the late fees rule.
"Today’s proposed rule seeks to save families billions of dollars and ensure the credit card market is fair and competitive." BIDEN ADMINISTRATION ANNOUNCES RULE TO REMOVE MEDICAL BILLS FROM CREDIT REPORTS Members of the groups critical of the CFPB’s rule argue that while it will provide financial relief to people who pay their credit card bills late, it will cause banks and credit unions to offset those costs by making financial services more costly for consumers who pay on time.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
GOP slams Biden's $100 million for Palestinians: 'No difference between Joe Biden and the Ayatollah'The Biden administration is sending aid to Palestinians in Gaza and the West Bank.
Baca lebih lajut »
‘Breaking Biden’ Author: All the Ways Joe Biden Has Harmed IsraelSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Baca lebih lajut »
‘Breaking Biden’ Author: Why Joe Biden Wants an Open Border Despite Terror ThreatSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Baca lebih lajut »
Biden warns terror group Hezbollah not to enter Israel-Hamas warThe tensions are further increasing in the Middle East after a deadly explosion at a hospital in Gaza that killed some 500 people.
Baca lebih lajut »
Palestinian group accused of harboring terrorists received $1B from Biden admin: reportMore than $1 billion was sent during the Biden Administration to a group working in Gaza and the West Bank with no guarantee that it wouldn't be used to supply Hamas.
Baca lebih lajut »
Biden says Gaza hospital blast was caused by an errant rocket from a terrorist groupThis is additional taxonomy that helps us with analytics
Baca lebih lajut »