Action Item: Please SIGN ON by completing the form below to join
this letter supporting the CFPB's proposed credit card late fee rule, which will lower the credit card late fees from $30 for the first late payment and $41 for each subsequent late payment to an average of $8 for most credit cards.
The rule is expected to be finalized in December or January, and it is important to show community and public support, since the rule is opposed by major trade associations for the credit card issuers, including the American Bankers Association and Consumer Bankers Association.
Consumer Reports and other national groups will deliver the signed coalition letter to the Biden Administration and CFPB on Tuesday November 28, accompanied by tens of thousands of petition signatures that we have collected, and consumer stories about late fees they have incurred.
Deadline: Monday November 27 - Close of Business 8:00 PM Pacific Time