Thank the Biden Admin for Capping Credit Card Fees

The average credit card late fee is $32, costing Americans over $10 billion a year.

Thankfully, President Biden is fighting to eliminate these “junk fees” that impact nearly every American. 

Biden’s latest effort aimed at protecting American consumers came from the Consumer Financial Protection Bureau, which just finalized a rule that would cap credit card late fees at $8.

When elected officials and government agencies take action to protect us from corporate greed, it’s important to make sure they know we appreciate it. Sign the petition to thank the Biden administration for capping credit card fees. 

“For over a decade, credit card giants have been exploiting a loophole to harvest billions of dollars in junk fees from American consumers,” Rohit Chopra, director of the Consumer Financial Protection Bureau said. “[This] rule ends the era of big credit card companies hiding behind the excuse of inflation when they hike fees on borrowers and boost their own bottom lines.”

Big banks do not need to nickel and dime everyday families with costly hidden fees while bragging about massive profits. This rule will positively affect families all across the country. 

Sign the petition today to thank the Pres. Biden and his Consumer Financial Protection Bureau for capping credit card fees.