Letter Supporting Senate Resolution to Nullify Credit Card Late Fee Rule

ICBA expressed support for a Senate resolution to nullify the Consumer Financial Protection Bureau’s final rule to cut credit card late fees was introduced in the Senate.

The resolution from Sen. Tim Scott (R-S.C.) would express congressional disapproval of the rule and nullify its implementation.

Rep. Andy Barr (R-Ky.) previously introduced a companion version of the bill in the House.