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The new regulations that were proposed by Consumer Financial Protection Bureau would have set a ceiling of $8 for most credit card late fees or require banks to show why they should charge more than $8 for such a fee. Banks had sued to stop the lawsuit earlier this year, but they had run into a roadblock when Pittman ordered the case moved to Washington, D.C., because of the fact that few banks operate in northern Texas. However, an appeals court reversed most of Pittman's decision and ordered him to rule on the bank's request for an injunction.
Source: Loan Digest (loandigest.net)
Business Lawsuits Legal Proceedings Courts U.S. News General News Article 110123178
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