Tell Congress: Reject Efforts to Overturn the CFPB's Crackdown on Credit Card Late Fees
In March, the Consumer Financial Protection Bureau (CFPB) finalized a long-awaited proposal on exorbitant credit card late fees that will slash most late fees from a high of $41 down to $8, and in the process save American consumers $10 billion every year.
This is a massive step towards economic justice, especially in lower income communities and for consumers of color living paycheck to paycheck -- who tend to bear the burden of these fees most heavily.
However, the CFPB’s proposal is now being challenged by a Congressional Review Act resolution. Congress is poised to vote on the resolution to overturn the rule, which could keep credit card late fees sky high -- so the time to speak out is NOW.
Sign and send a message to your Representative and Senators today!