Federal judge temporarily halts Biden plan to lower credit card late fees to $8

The temporary injunction imposed by Judge Mark Pittman in the Northern District of Texas is a win for the big banks and major credit card companies.LOS ANGELES — A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week.

White House spokesperson Jeremy Edwards said in a statement Friday night, “We are disappointed that a court sided with House Republicans, big banks and special interests to hit pause on a critical measure to save American families billions in junk fees.” While Pittman did impose the injunction, he used a significant portion of his order to chastise the Fifth Circuit Court of Appeals for sending this case back to him after he had already ruled that the case should be handled out of Washington. Critics of the lawsuit have called the case the latest example of judicial “forum shopping,” where a company files a lawsuit in a friendly district in order to have a greater likelihood of getting a favorable ruling.

"Every month that the credit card late fee rule is blocked will cost Americans over $800 million," the White House said Friday.

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