Credit card late fees capped at $8 under Biden crackdown on 'junk fees' - eviltoast
The Biden administration finalized a rule Tuesday that will close a loophole to slash fees charged by companies from an average of $32 to $8.
  • BeautifulMind ♾️@lemmy.worldEnglish
    26·
    10 months ago

    While they’re at it, why not cap processing fees as junk fees? It for sure doesn’t cost 2.9% of your grocery bill to facilitate the payment- it’s all automated and there’s little to no labor involved in the actual processing, it’s just collecting economic rent