Press Releases
U.S. Chamber of Commerce Gets Major Setback on Campaign to Keep High Credit Card Fees for Families
The decision is a major win for working families most served by the CFPB
WASHINGTON, DC — Dealing a major blow to the U.S. Chamber of Commerce’s attempt to block the Consumer Financial Protection Bureau’s (CFPB) newest rule capping credit card late fees to $8, U.S. District Judge Mark Pittman transferred the industry-led challenge to the United States District Court for the District of Columbia. The Chamber appeared to have chosen the Texas court believing it would be friendlier to their interests.
Big banks and their allies on the far-right have been trying to game the system by picking and choosing judges to get the rulings they want for far too long. However, the U.S. Chamber of Commerce’s latest attempt at venue shopping was too much even for a Trump appointee judge. While the Chamber has suffered a major setback in protecting their big bank members who drain consumers of billions of dollars in needless and excessive penalties every year, don’t expect them to stop clogging up with the court system any time soon.”
