The Consumer Financial Protection Bureau will propose on Wednesday a rule to ban "excessive" fees that credit card issuers charge for late payments, something the bureau estimated costs consumers $12 billion a year.
Chopra said such fees far exceeded any additional costs that lenders incurred and said the rule would cap a regulatory threshold at $8, a level indicated by CFPB data analysis. The National Telecommunications and Information Administration , an arm of the Commerce Department, is releasing a report denouncing the market dominance enjoyed by Apple and Google in the app economy, where the vast majority of smartphone users and developers are hemmed inside the tech giants' software ecosystems, which the NTIA said drives up costs and limits innovation.
I’ve been hoping they’d do away with charging small businesses extra fees for use of credit card machines. Those are junk fees that hurt small businesses. Another unfair lending practice is front-loading interest on loan payments.
POTUS that’s NOT your job!
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