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.
  • hansl@lemmy.world
    39·
    9 months ago

    49% of Americans can’t afford a 1000$ emergency. I can see why you would use your credit card, try to pay it with your next paycheck, paycheck is late (because of course it is) then miss credit card payment.

    Those are very thin margins that a lot of Americans deal with.

    • jballs@sh.itjust.worksEnglish
      61·
      9 months ago

      Yeah, but something like that is happening 9 or 10 times a year for 45 million Americans. That’s crazy!