Biden's late-fee crackdown is a blow to -2-
Provided by
Dow Jones
He said that the rule could land harder on lower-income consumers, who are likelier to struggle keeping up on payments. They could also face higher fees and steeper barriers to credit if their accounts don't produce as much of a profit for the banks.
"Fees can be like whack-a-mole," he said. "One goes down, another comes up."
-Bill Peters
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03-27-24 1140ET
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