Amy Wagner with Allworth Financial discusses how using cash doesn't always save money.WASHINGTON — The Biden administration moved Wednesday to cap most credit card late fees at $8 for a missed payment.
Rohit Chopra, director of the Consumer Financial Protection Bureau, said his folks found a legal loophole credit card companies have been exploiting to charge billions of extra dollars that go beyond what a late payment costs banks and what it needed to deter late payments. The company canceled its November general public ticket sale for Swift’s highly anticipated tour after several days of turbulence during its verified fan presale, angering hundreds of thousands of fans who never got tickets.
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