Judge blocks Biden administration rule capping credit card late fees at $8
Judge blocks Biden administration rule capping credit card late fees at $8

Judge blocks Biden administration rule capping credit card late fees at $8 | CNN Business

A federal judge in Fort Worth, Texas, on Friday blocked a new Biden administration rule that would prohibit credit card companies from charging customers late fees higher than $8.
US District Judge Mark T. Pittman, an appointee of former President Donald Trump, granted a preliminary injunction to several business and banking organizations that allege the new rule violates several federal statutes.
These organizations, led by the right-leaning US Chamber of Commerce, sued the Consumer Financial Protection Bureau after the rule was finalized in March. The rule, which was set to go into effect Tuesday, would save consumers about $10 billion per year by cutting fees from an average of $32, the CFPB estimated.
Gotta love how it's always one asshole judge in Texas that can stop legislation for the whole country.
Infuriating thing was, this judge was clearly shopped for, but he kicked the case to the DC district Court instead of Texas. He himself even accused the banks of venue shopping in the ruling when he did so! Unfortunately the DC district court sent it right back and said he still had to take the case. He should have recused himself at that pont anyways given his stock holdings and things, but he now decides to reward the the banks for their venue shopping he's clearly aware of. Judiciary is rotten.
https://www.yahoo.com/news/texas-judge-moves-fee-case-232103686.html
He just put an injunction in place which is common. It just means the case has to be decided first.
If he’s accusing them of venue shopping. I suspect he’s going to rule against them.
It's a single judge in Texas + an enabling appeallate system