U.S. Sen. Baldwin: Leads bill to cap credit card late fees at $8
Home » Press Releases » U.S. Sen. Baldwin: Leads bill to cap credit card late fees at $8
WASHINGTON, D.C. – U.S. Senator Tammy Baldwin (D-WI) led her colleagues in introducing the Credit Card Fairness Act, legislation that would cap credit card late fees at $8.
Consumers currently pay $14 billion per year in credit card late fees, which pads the profits of the biggest banks. The standard $30 to $41 late fee is up to five times higher than the cost for banks of collecti...
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