On March 5, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a final rule amending Regulation Z and its accompanying commentary to address late fees charged by card issuers that, together with their affiliates, have one million or more open credit card accounts (referred to as “Larger Card Issuers”). This final rule adopts a late fee safe harbor threshold of $8.00 for those issuers and provides that the annual adjustments to reflect changes in the Consumer Price Index (CPI) do not apply to this $8.00 amount.
Already a member? Log in
Members Get More |
This page contains member-only content.Membership is open to all federally insured credit unions in the United States, both federally and state-chartered. Members enjoy:
|
If you are already logged in and believe you should have access to member-only content, please contact us for assistance at info@americascreditunons.org.