Final Call: Oppose arbitrary CFPB credit card fee caps

Published by: Sean Brown

March 23, 2023 | Regulatory

Terms, conditions, and agreements between you and your members are just that: between you and your members. As member-owned financial cooperatives, credit unions already empower their members to not only set standards they see appropriate, but also to democratically challenge those they see as inappropriate. Credit card terms and conditions that are adequately disclosed, and agreed upon, should be no different; however, the CFPB is proposing to limit all credit card late fees to an arbitrary $8, regardless of what it costs to provide credit services.


Cards, compliance, and cyber security have a cost. Help the League oppose this CFPB proposal by submitting a pre-written or customized message reminding the agency how 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.

Contact Sean Brown for questions or assistance.

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

Other Movement News

Government Affairs

Credit union data protection efforts shared with Congress

Financial fraud is everywhere; account takeovers, elder scams, counterfeit checks, and stolen credit cards are just a few examples. The U.S. Senate Committee on Banking, Housing, and Urban Affairs held […]

League joins brief to protect commercial lending

While your credit union tries to remain focused on members, services, and the problems already on your plate, the League looks to prevent any new issues from showing up. That […]
Member Benefits

League welcomes new marketing coordinator

This month, the Ohio Credit Union League welcomed Morgan Hoy, marketing coordinator, to the team. Morgan brings diverse marketing and communications experience. Most recently, she managed her own freelance marketing […]