A key Donald Trump ally is seeking a Senate vote to block a new Biden administration rule capping credit card late fees, targeting a high-profile initiative in the president’s campaign to crack down on unpopular “junk fees.”
Senator Tim Scott, a potential Trump vice presidential pick and the top Republican on the Banking Committee, said Tuesday he would push the Senate to take action to block the new regulation, to be announced Tuesday at a meeting of the White House Competition Council.
Senator Tim Scott speaks during an event with Donald Trump, not pictured, at the Black Conservative Federation Honors Gala in Columbia, South Carolina.
Photographer: Christian Monterrosa/Bloomberg
The US Consumer Financial Protection Bureau estimates the rule, which caps most credit card late fees ...
