Mentioned Companies:

Credit Card Late Fees Capped

The United States Consumer Financial Protection Bureau (CFPB) finalized on March 6, 2024, a cap of $8 on late payment fees, making $8 the most that could be charged by issuers with more than 1 million open accounts. The effective date of the 338-page rule will be 60 days after its publication in the Federal Register. The CFPB said that late fees averaged $32 in 2022, up from $23 at the end of 2010. In 2010, the Federal Reserve Board of Governors implemented the Credit Card Accountability Responsibility and Disclosure Act of 2009, which banned issuers from charging fees deemed to be exces...

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March 2024
Headlines in this Issue
Charts in this Issue

Canada—Networks and Issuers, Market Shares and Purchase Transactions

Market Shares of Visa & Mastercard Purchase Volume

Spending, Transactions and Cards by Brand

Credit Card Issuers in Canada—Ranked by Outstandings at Year-End 2023

Merchant Processing Fees Paid by Merchants in the US—2023

BNPL Deals Valued at $100 Million and Above

Investments and Acquisitions Deals by Region—2023

Investments & Acquisitions—February 2023