ICYMI: U.S. Chamber’s Lawsuit Puts Lower Credit Card Late Fees in Jeopardy

Ciscomani Should Vote ‘No’ On Resolution To Block Lower Credit Card Fees

TUCSON — While the U.S. Chamber of Commerce has succeeded in temporarily blocking an $8 cap on credit card late fees, Congressman Ciscomani’s House Republican colleagues have pushed a resolution that would repeal the new cap and could come to the floor for a vote at any time. 

The ongoing legal case brought by the Chamber of Commerce and Republicans’ House resolution puts lower credit card late fees in jeopardy and threatens Arizona consumers.

According to CNN:

“A federal judge in Fort Worth, Texas, on Friday blocked a new Biden administration rule that would prohibit credit card companies from charging customers late fees higher than $8.

These organizations, led by the right-leaning US Chamber of Commerce, sued the Consumer Financial Protection Bureau after the rule was finalized in March. The rule, which was set to go into effect Tuesday, would save consumers about $10 billion per year by cutting fees from an average of $32, the CFPB estimated.”

The U.S. Chamber has endorsed and financially supported Congressman Ciscomani’s candidacy for his U.S. House seat.

"Arizonans want their elected leaders to work to lower costs, yet House Republicans have  sided with corporate interests who want to keep Arizonans paying more in credit card late fees and making it harder for them to get out of debt," said Les Braswell with Honest Arizona. "Congressman Ciscomani needs to work to lower Arizonans’ financial burden, stop siding with corporate interests, and vote against this resolution if it comes to the floor for a vote."

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