How to Hack a $1.3T Market

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Judge Strikes Down Biden-Era Rule Capping Credit Card Late Fees At $8

Proiti Seal Acharya
April 16, 2025

A Texas federal judge has ruled against a Biden-era regulation that would have capped credit card late fees at $8, terminating a major initiative by the Consumer Financial Protection Bureau (CFPB) to restrict what it labelled "junk fees."

The decision is being regarded as a legal and political win for financial industry groups that resisted the regulation.

What Happened: U.S. District Judge Mark Pittman dismissed the CFPB rule, finalized in March 2024, after both the agency and six major business associations agreed it was unlawful. The rule was meant to save consumers an average of $220 a year by limiting late fees.

Pittman ruled that it conflicted with the 2009 Credit Card Accountability and Disclosure Act, which allows fees that are "reasonable and proportional." The lawsuit was filed by the American Bankers Association, U.S. Chamber of Commerce, and many Texas business groups.

See Also: Trump’s CFPB Overhaul Leaves Consumers Exposed--Here’s What It Means For Your Money

Why It Matters: The court's ruling deals a setback to the Biden administration's larger effort to take down what it called predatory consumer charges. Those opposing the rule argued it would backfire.

"It would have resulted in more late payments, lower credit scores, higher interest rates and reduced credit access," the plaintiffs said in a joint statement. They added that the outcome was a victory for financial responsibility and "common sense."

The CFPB's attempt to reformulate the credit card fee structure now faces a major hindrance. With rising scrutiny of the agency's authority and legal footing, the future of federal consumer protection efforts hangs in limbo, particularly as calls to limit or even shut down the CFPB gain attention.

Read Next:

  • A 52-Year-Old Man Who Owes Money On 27 Credit Cards Gets An Ultimatum From Dave Ramsey: ‘Chop Them All Up. Every One Of Them’

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