Biden's plan to lower credit card late fees halted by Texas judge

DALLAS, Texas: Judge Mark Pittman in the Northern District of Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to US$8.

The temporary nationwide injunction, which was planned to come into force next week, comes after a lawsuit was filed by major banks and major credit card companies, which collect billions in revenue each year in late fees.

The U.S. Chamber of