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: sbrown@ohiocul.org
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