Loading...
Market
What stance will the federal government take on the CFPB rule by the end of 2024?
5
Resolution / Starting Odds
Direct support for the rule • 25%
Neutral stance • 25%
Opposition to the rule • 25%
No involvement • 25%
Official statements from the White House or Congress
Story
Texas Judge Temporarily Blocks CFPB Rule Capping Late Fees at $8, Affecting $10B Savings
May 10, 2024, 10:15 PM
A federal judge in Texas has temporarily blocked the implementation of a new Consumer Financial Protection Bureau (CFPB) rule that aimed to cap credit card late fees at $8, following a last-minute freeze attempt. This decision, expected today, comes after the banking industry argued that the CFPB exceeded its authority with the regulation. The rule was anticipated to save Americans approximately $10 billion annually in late fees. The legal battle has been marked by significant opposition from business and banking groups, highlighting the contentious nature of the financial regulation.
View original story
Similar markets
Support from Democratic leaders • 33%
Support from Republican leaders • 33%
Mixed or no clear support from either party • 34%
Amend the rule • 33%
Appeal the decision • 33%
Withdraw the rule • 33%
No expansion • 25%
Expansion to digital currencies • 25%
Expansion to fintech companies • 25%
Expansion to other financial services • 25%
No change • 33%
New director appointed • 33%
Major reshuffling of senior positions • 33%
Support • 33%
Oppose • 33%
Neutral/No Comment • 34%
Strong Opposition • 33%
Neutral/No Official Position • 34%
Supportive • 33%