CFPB Rule Prohibiting Excessive Credit Card Late Charges Will Save Consumers Billions in Junk Fees
Advocates praised action taken by the CFPB to stop credit card lenders from raking in billions of dollars from excessive late fees.
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Advocates praised action taken by the CFPB to stop credit card lenders from raking in billions of dollars from excessive late fees.
President Joe BidenThe White House1600 Pennsylvania AvenueWashington DC 20500 Mr. Rohit Chopra, DirectorConsumer Financial Protection Bureau1700 G St. NWWashington, DC 20552 Ms. Lael Brainard, DirectorMr. Michael Negron, Special Assistant to the President for Economic PolicyNational Economic Council1600 Pennsylvania Avenue NWWashington, DC 20500 Dear President Biden, Director Chopra, Director Brainard and Special Assistant Negron, The undersigned…
Read More about Letter to President Biden and CFPB Supporting Lower Credit Card Late Fees
Originally appearing in USA Today on November 1, 2023, Daniel de Visé talks to NCLC senior attorney Chi Chi Wu about rising credit card interest rates. “Yep. They can charge that much. Credit cards can actually charge whatever they want. It’s a little-known fact.” Chi Chi Wu, a senior attorney at the nonprofit National Consumer…
Appearing in Bloomberg Law on September 18, 2023, Evan Weinberger talks to Chi Chi Wu for a piece covering banks, debt collectors, and other companies response to the Consumer Financial Protection Bureau (CFPB) request for information on medical payment products.
Read More about Bloomberg Law: Banks Warn CFPB to Back Off on Scrutiny of Medical Credit Cards
The National Consumer Law Center (NCLC) (on behalf of our low-income clients), Americans for Financial Reform Education Fund, and Georgia Watch submit the following comments in response to the Request for Information Regarding Medical Payment Products (RFI) issued by the Consumer Financial Protection Bureau (CFPB), the Department of Health and Human Services (HHS), and the…
Originally appearing in the New York Times on May 12, 2023, Ann Carrns looks at patients increasingly being offered special financing to cover medical treatments. Consumer advocates, including NCLC’s April Kuehnhoff, say it can turn out to be more costly than using conventional credit cards. Patients should consider other more affordable financing options, including loans…
Read More about The New York Times: More Options to Pay for Medical Care, but Some May Be Costly