On February 1, the US Consumer Financial Protection Bureau (CFPB) proposed a rule to curb credit card late fees, saying that they represent more than 10% of all credit card finance charges and fees paid annually. The change, which is proposed to the Credit Card Accountability Responsibility and Disclosure Act of 2009, would lower the immunity provision for late fees to $8 per missed payment. The action will also end automatic annual inflation adjustments and ban late fees above 25% of the consumer’s required payment. Issuers commonly charge from $30 to $41 for a missed payment. Accordi...