Judge blocks Biden administration rule capping credit card late fees at $8 | CNN Business
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A federal judge in Fort Worth, Texas, on Friday blocked a new Biden administration rule that would prohibit credit card companies from charging customers late fees higher than $8.

A federal judge in Fort Worth, Texas, on Friday blocked a new Biden administration rule that would prohibit credit card companies from charging customers late fees higher than $8.

US District Judge Mark T. Pittman, an appointee of former President Donald Trump, granted a preliminary injunction to several business and banking organizations that allege the new rule violates several federal statutes.

These organizations, led by the right-leaning US Chamber of Commerce, sued the Consumer Financial Protection Bureau after the rule was finalized in March. The rule, which was set to go into effect Tuesday, would save consumers about $10 billion per year by cutting fees from an average of $32, the CFPB estimated.

    • @Furbag@lemmy.world
      35•7 months ago

      Also a good example of how executive orders are not the end-all-be-all solution for problems that could in theory be solved by the executive alone. We shouldn’t be blaming Biden for not doing things that ultimately are the responsibility of legislative inaction.

      It’s still bullshit that this was blocked, and definitely raises suspicion that the judge in question is bought and paid for by the banking industry, or at the very least, a Trump appointee who doesn’t think twice about looking the other way if it helps Don the Con.

        • @JovialMicrobial@lemm.ee
          11•7 months ago

          I just looked up how US citizens can fight judicial corruption and apparently corrupt judges can be reported to the Judicial Conference of the United States, the Federal Bureau of Investigation (FBI), the Internal Revenue Service (IRS), Transparency International or the Judicial Integrity Network.
          Maybe we should start reporting every judge that pulls crap like this to these agencies. Maybe something will actually change if/when investigations start happening.

    • @RedditWanderer@lemmy.world
      29•7 months ago

      The Generally Obstructive Party will block this and then specifically bring up he didn’t do shit about it. Their base won’t even check that he tried and will say he tried because he knew it would fail, and they don’t want lower credit card fees anyway.

        • @UnderpantsWeevil@lemmy.world
          -8•7 months ago

          good things the left-wing is trying to pass that the right-wing is stopping

          When you can pass bills that can TikTok from the minority by stapling them to foreign military aid, but you can’t expand Medicare or sanction polluters or secure women’s rights to health care or enfranchise DC voters…

          This isn’t “the right just sabotaged us!” it’s “the moderates just sided with reactionaries again”.

          Caps on credit card fees? Left proposed, right killed.

          So much of this boils down to Dems green lighting GOP judicial nominees while Repubs block Dem nominees without consequences.

          What is the remedy for this obstruction other than to scream “Vote or things will get worse!” every two years?

          The Dens won’t pack the court. They won’t use our majorities when we have them. They won’t stop giving their economic rivals tons of free money. They won’t stop sending cops into university campuses to crack heads.

          Throwing up a rule so a Trump judge can skeet shoot it isn’t “doing anything” when you already know the outcome.

            • @UnderpantsWeevil@lemmy.world
              -1•7 months ago

              The cops crack heads under any president.

              One of the significant benefits of the FDR presidency was his refusal to unleash police on labor leaders.

              That ended under Truman and J. Edgar Hoover.

              You’re rambling.

              I’m sorry if a bit of history startled you.