(Reuters) – A authorities court docket in Texas on Friday denied a requirement by the Consumer Financial Protection Bureau to lift an order that obstructed a brand-new coverage overlaying cost card late fees at $8, a plan examined by service and monetary groups.
UNITED STATE District Judge Mark Pittman in Fort Worth decreased to liquify an order he supplied in May that disallowed the coverage from working. That coverage was supplied as part of the Biden administration’s extra complete suppression on “junk fees.”
The CFPB had really requested the court docket to evaluation the order, claiming it relaxed utterly on a charms court docket’s now-overturned judgment proclaiming the corporate’s financing framework unconstitutional. But Pittman claimed the coverage can nonetheless be obstructed on numerous different premises.
(Reporting by Nate Raymond in Boston; Editing by Leslie Adler)
