The CFPB's $8 Late Fee Rule (Part 1)

Is this really a win for consumers?

This week we’re taking a look at some breaking news in the regulatory space. Following a proposal that was initially surfaced by the CFPB (that we covered last year), the CFPB has now finalized a rule which says that card issuers can no longer charge you (the consumer) statement late fees that exceed $8 per period. Initially, when the CARD act passed in…