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The 5th Circuit directed a Texas judge to decide the CFPB credit card fee case by May 10. The court's order came in response to a bid by banking and business groups to have the appellate court itself decide whether the rule should be blocked https://t.co/udvR3Egq4r https://t.co/Nzesy6VucU
A federal appeals court has directed a judge in Texas to decide by the end of next week whether to block the U.S. Consumer Financial Protection Bureau's new rule capping credit card late fees at $8 @nateraymond https://t.co/udvR3Egq4r https://t.co/uKY56f7IIP
The 5th Circuit directed a Texas judge to decide by the end of next week whether to block the CFPB's new rule capping credit card late fees at $8. At issue is a CFPB rule that targets 'excessive' fees credit card issuers charge for late payments https://t.co/udvR3Egq4r https://t.co/4XmSSGe6jF
A federal appeals court, the Fifth Circuit, has mandated a Texas judge to determine by May 10 whether to block a new Consumer Financial Protection Bureau (CFPB) rule that caps credit card late fees at $8. The directive comes as part of a lawsuit brought by the banking industry, which challenges the rule's intent to curb what the CFPB considers 'excessive' late payment fees charged by credit card issuers.