Reuters reveals U.S. Consumer watchdog to ramp up credit card enforcement, may review fee caps - Reuters News Agency
Business & Finance

Reuters reveals U.S. Consumer watchdog to ramp up credit card enforcement, may review fee caps

Reuters exclusively reported that the Consumer Financial Protection Bureau (CFPB)—the agency dedicated to ensuring that U.S. consumers are treated fairly by banks and lenders—plans to ramp up enforcement actions against lenders that illegally charge credit card late-payment fees. The report also noted that the CFPB may rewrite its rules that set thresholds for such fees. It marks an escalation of a crackdown on what the agency calls “junk fees.” 

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceFinancial ServicesGovernment & Public Services
Regions: North America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
CFPB
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