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The new rules will outline the requirements for recognition in the industry
The first-of-its-kind bill bans the collection of interchange fees on taxes and tips
Consumer spending on credit cards and debit cards have only grown by 3.5% year over year
Consumers have been granted the right to dispute buy now, pay later lenders
Many providers charge complex and costly maintenance and exit fees
Even though headline, consumer and business credit indexes have increased, they remain under neutral level
Average late fee charge reduced from $32 to $8
The retail banking industry went on high alert last week as President Joe Biden highlighted a new rule on credit card late fees
Over 76% of consumers expect their finances to improve or remain unchanged over the next 12 months
Proposed rule to ban junk fees aims to remedy widespread concerns
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