Federal Judge Blocks CFPB Rule Limiting Credit Card Late Fees

The government’s new rule that would limit credit card late fees has been blocked by a federal judge in Texas.

In a Friday (May 10) decision, Judge Mark Pittman of the U.S. District Court for the Northern District granted an injunction that halts the restrictions. 

The restrictions had been adopted by the Consumer Financial Protection Bureau (CFPB) and were set to take effect Tuesday (May 14), according to the report.

The injunction blocking these restrictions had been requested...