Fifth Circuit Extends Hold on Credit Card Late Fee Suit Transfer

A lawsuit brought by banking industry groups challenging a new cap on credit card late fees will remain in limbo, as a federal appeals court extended a pause on moving the case from Forth Worth, Texas, to Washington, D.C.

The US Chamber of Commerce, the American Bankers Association, and the Consumer Bankers Association, along with a trio of Texas industry groups, are suing to block a final rule from the Consumer Financial Protection Bureau capping credit card late fees at $8. Their challenge quickly hit a roadblock last month when a Texas federal district judge decided the case didn’t belong ...