Loading...
Market
Will the $8 credit card late fee cap be reinstated by the end of 2024?
5
Resolution / Starting Odds
Yes • 50%
No • 50%
Court filings and judicial decisions
Story
Trump-Appointed Texas Judge Blocks $8 Credit Card Late Fee Cap
May 11, 2024, 02:50 AM
A federal judge in Texas, appointed by former President Trump, has temporarily blocked the implementation of a new rule by the Consumer Financial Protection Bureau (CFPB) that aimed to cap credit card late fees at $8. This decision comes after significant opposition from the banking industry, which argued that the CFPB exceeded its authority with this rule. The rule, which was set to take effect next week, was anticipated to significantly reduce the late fee revenue for banks and credit card issuers, potentially saving consumers $10 billion annually.
View original story
Similar markets
Rule remains blocked • 50%
Rule enforced • 50%
Rule permanently blocked • 33%
Rule enforced with modifications • 33%
Rule enforced as originally planned • 33%
Rule Upheld • 50%
Rule Overturned • 50%
Rule Upheld • 50%
Rule Overturned • 50%
Yes • 50%
No • 50%
Rule Upheld • 33%
Rule Overturned • 33%
Partial Amendment • 34%
Yes • 50%
No • 50%