CFPB credit card late fee cap reversed, issuers return to $32+ fees
Enacted7/10
⚖ blocked by courts
Federal · Chamber of Commerce v. CFPB, No. 4:24-cv-00213 (N.D. Tex.); rule vacated Apr 15, 2025 · Decided Apr 15, 2025
Impact 7/10
The CFPB's 2024 rule would have capped most credit card late fees at $8 for large issuers. After the Trump administration's CFPB switched sides and filed a joint motion with bank trade groups, Judge Mark Pittman vacated the rule on April 15, 2025. Issuers may again charge late fees of roughly $32 and up; Americans pay about $14 billion per year in credit card late fees, borne disproportionately by lower-income cardholders.
Consumer & moneyWorking-age adultsYoung adults (18-30)Low-incomeMiddle-incomeImmigrants
Sources
✓ Verified against primary sources 2026-08-16