Mentioned Companies:

CFPB Proposes Change to US Credit Card Late Fees

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...

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February 2023
Headlines in this Issue
Charts in this Issue

Global Network Card Brands in the US–2022

Credit Card Outstandings in the US

Market Shares of Purchase Volume on General Purpose Cards in the US–2022

US General Purpose Cards 2022 with Change vs. 2021

General Purpose Credit Cards in the US

Visa and Mastercard Purchase Transactions–Debit vs. Credit

Purchase Volume on US Visa and Mastercard Credit and Debit Cards

Debit & Prepaid Cards 2022

Credit, Debit and Prepaid Cards 2022

Investments & Acquisitions–January 2023