WASHINGTON–The Consumer Financial Protection Bureau has won a victory in a lawsuit over its new rules on credit card late fees.
The U.S. Chamber of Commerce had filed suit in Texas to block the CFPB’s rule capping credit card late fees to $8. The Texas venue was considered friendlier to business and more likely to rule in the Chamber’s favor.
But U.S. District Judge Mark Pittman has transferred the challenge to the United States District Court for the District of Columbia, which is often friendlier to the government in such cases.
One consumer group hailed the move.
Trying to Game the System’
“Big banks and their allies on the far-right have been trying to game the system by picking and choosing judges to get the rulings they want for far too long,” said Accountable.US’ Executive Director Tony Carrk. “However, the U.S. Chamber of Commerce’s latest attempt at venue shopping was too much even for a Trump appointee judge. While the Chamber has suffered a major setback in protecting their big bank members who drain consumers of billions of dollars in needless and excessive penalties every year, don’t expect them to stop clogging up with the court system any time soon.”
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