A federal judge on Friday temporarily blocked the U.S. government from trying to limit credit card late fees, siding with banks and other business lobbyists that had challenged the policy as unconstitutional.
The cap on penalties was set to take effect next week, but the new ruling from U.S. District Judge Mark T. Pittman, nominated by President Donald Trump in 2019, would block swift financial relief for millions of Americans who have fallen behind on their bills.
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Microsoft’s artificial intelligence head Mustafa Suleyman has poached his former…
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump’s crackdown on tariff-free access for small goods could…
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