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Seniors displaced after Yarmouth fire | SaltWire #fire #yarmouth #seniors #news - The U.S. Consumer Financial Protection Bureau on Tuesday scored a jurisdictional victory when a federal judge in Texas transferred to another court in Washington, D.C., an industry-backed lawsuit challenging the agency's rule capping credit card late fees at $8.
The CFPB had fought for months to move the case out of the federal court in Fort Worth, a venue that has become a favorite of litigants challenging the Biden administration's agenda and whose two active judges are Republican appointees.At issue is a rule that would block card issuers with more than 1 million open accounts from charging more than $8 for late fees, unless they could prove higher fees are necessary to cover their costs.
Pittman, an appointee of Republican former President Donald Trump, on May 10 halted the rule from taking effect. Pittman's sole rationale for blocking the rule was because the 5th Circuit had in a different case in 2022 concluded the CFPB's funding structure was unconstitutional, which would mean any regulations it adopted were likewise unconstitutional.
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