Washington, D.C. — The U.S. Chamber of Commerce Litigation Center Counsel Maria Monaghan issued the following statement after the Northern District of Texas granted the Chamber's motion for a preliminary injunction in its challenge to the Consumer Financial Protection Bureau's (CFPB) credit card late fees rule.
“This ruling is a major win for responsible consumers who pay their credit card bills on time and businesses that want to provide affordable credit. The CFPB’s attempted micromanagement would have raised costs for most credit card users and made it harder for businesses to meet consumers’ needs. The U.S. Chamber will continue to hold the CFPB accountable in court."
