Call-To-Action: CFPB proposes capping credit card fees

Published by: Sean Brown

February 22, 2023 | Regulatory

People, families, businesses, and community needs are best served when there is a balance between the impact and cost of regulation and the benefits it provides consumers. Now, the Consumer Financial Protection Bureau (CFPB) thinks it should set the balance between the cost of credit card fees and whatever it will cost your credit union. Specifically, the CFPB wants to reduce all credit card late fees to $8 regardless of the real costs associated with cards, convenience, or cyber-security.

Help us oppose the CFPB by submitting a pre-written or customized message reminding the agency how people, families, businesses, and communities already have access to safe, fair, and affordable access to credit provided by cooperative financial institutions.

Contact Sean Brown for questions or assistance.

Sean Brown
Sean Brown Director, Regulatory Affairs E:
Contact Us

Other Movement News

Government Affairs

League advocates for “clean” NDAA funding bill

In a gridlocked Congress, must-pass federal spending bills open an opportunity to accomplish policy initiatives that can either promote or inhibit credit unions from serving their members. That’s why the […]

Ohio shows united opposition to debit interchange rule

Cards, compliance, and cybersecurity all have a cost, and that is why the League submitted a comment letter expressing serious concern and vehement opposition to the Federal Reserve’s proposal to […]
Member Benefits

Trending on Huddle: Are you a part of the discussion?

Connecting and collaborating are part of what makes the Credit Union Movement unique to financial services and continue to be a cornerstone of its collective success. The League’s online community, […]