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PayPal successfully won a lawsuit against a rule mandating disclosure of fees for digital wallets, with a judge ruling that the U.S. Consumer Financial Protection Bureau erred in equating these accounts with prepaid cards. The ruling favored PayPal in the legal battle. Separately, a lawsuit was filed challenging a rule change by President Joe Biden that aims to limit credit card late fees, potentially moving the case from Texas to a Washington, D.C. court.
⚠️ US COURT REJECTS TRANSFER OF CREDIT CARD FEES RULE CASE AMID FOCUS ON 'JUDGE SHOPPING' Full Story → https://t.co/LgTHg4uZea https://t.co/0Xgaxb4Yoa
Just days after @JoeBiden announced changes that would limit credit card late fees, a lawsuit was launched challenging the rule change that involves the potential transfer of the case out of Texas to a Washington, D.C. court. https://t.co/hti96ypJb4
PayPal won its lawsuit against a rule requiring it to disclose fees associated with digital wallets, after US District Judge Richard Leon in D.C. ruled the CFPB had no basis for treating the accounts the same as prepaid cards https://t.co/80v1qWAI6b https://t.co/5SbEahUvMf
