On March 5, 2024, the CFPB issued its final credit card late fees rule which lowers the safe harbor late fee amount that can be charged by issuers other than “smaller card issuers” to $8. While the drastically reduced safe harbor amount has garnered the most attention, the final rule includes other significant changes that merit attention by both smaller and large card issuers.
On March 21, 2024, from 1:00 p.m. to 2:15 p.m. ET, Ballard Spahr will hold a webinar, “Has The CFPB’s Final Credit Card Late Fees Rule Dealt Cardholders A Winning Or Losing Hand?” Our guest speaker will be Andrew Nigrinis from Legal Economics LLC. For more information and to register, click here.