Reuters exclusively reported that the Consumer Financial Protection Bureau (CFPB)—the agency dedicated to ensuring that U.S. consumers are treated fairly by banks and lenders—plans to ramp up enforcement actions against lenders that illegally charge credit card late-payment fees. The report also noted that the CFPB may rewrite its rules that set thresholds for such fees. It marks an escalation of a crackdown on what the agency calls “junk fees.”
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