Rules to Curb Credit-Card Late Fees Get Fresh Look at CFPB (2)

The Consumer Financial Protection Bureau announced plans to draft regulations to potentially curb credit-card late fees estimated to cost consumers as much as $12 billion annually.

The CFPB released an advanced notice of proposed rulemaking on Wednesday that seeks public comment on late fees that the bureau says consumers may not understand when they sign up for cards.

The CFPB wants to review an “immunity provision” in rules implementing the 2009 Credit CARD Act. The provision sets maximum fee amounts and allows “reasonable and proportional” increases for card issuers to cover the costs of borrower late payments.

The rules—which were ...