this post was submitted on 18 May 2024
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founded 1 year ago

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.

US District Judge Mark T. Pittman, an appointee of former President Donald Trump, granted a preliminary injunction to several business and banking organizations that allege the new rule violates several federal statutes.

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.

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[–] [email protected] 69 points 1 month ago* (last edited 1 month ago) (1 children)

US District Judge Mark T. Pittman, an appointee of former President Donald Trump

This is where we share reaping what we sowed with the long term secondary and tertiary damage from electing Donald Trump (and by extension, giving the Federalist Society carte blanche to re-form the judiciary in their hateful, spiteful image). They will continue to happen for decades to come (and will often be blamed on the liberals/progressive currently in power because they'll be the only ones trying to do anything to fix it).

The future's looking bright, guys

[–] slingstone 3 points 1 month ago

Aren't those guys kinda anti-federalist, except where it benefits them?