A federal judge in Texas has temporarily blocked the implementation of a Consumer Financial Protection Bureau (CFPB) rule that would cap credit card late fees at $8, saving Americans an estimated $10 billion annually. The rule, set to take effect next week, faced a last-minute freeze after banking industry efforts to block it succeeded. The judge's decision was a victory for business and banking groups who argued that the CFPB exceeded its authority with the rule, leading to a temporary reprieve for banks and credit card issuers from potential revenue losses. The Biden administration's plan to lower credit card late fees to $8 has been put on hold, with the rule on hold pending further legal proceedings.