CFPB ‘Optimistic’ on Resolving Banks’ Credit Card Late Fee Case

The Consumer Financial Protection Bureau is having discussions with banking industry groups about resolving an industry challenge to the agency’s $8 credit card late fee cap, the CFPB told a Texas federal judge.

The CFPB is “optimistic that an agreement can be reached within 30 days,” according to a Wednesday status report filed in the US District Court for the Northern District of Texas, but the agency asked Judge Mark T. Pittman to stay all pending deadlines in the case while talks continue.

The status report didn’t say what the agreement would entail, but one potential outcome would see the ...