CFPB Wants Fort Worth Chamber Tossed From $8 Late Fee Challenge

A local Texas chamber of commerce doesn’t have standing to sue to block the Consumer Financial Protection Bureau’s credit card late fee cap, the agency said in a court filing.

The US Chamber of Commerce, the American Bankers Association, and the Consumer Bankers Association are using the Fort Worth Chamber of Commerce as a tool to get their case before Texas federal judges even though no banks that are subject to the CFPB’s $8 credit card late fee cap are based in Fort Worth, Texas, the agency said in a Monday filing in the US District Court for the Northern ...