How banning credit card late fees hurts consumers
May 15, 2024
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0:58Now PlayingHow banning credit card late fees hurts consumers
YouTube Description
as posted by the channelThe Biden administration is banning excessive credit card late fees, but there’s three reasons this could backfire. Capping late fees could mean higher interest rates for everyone, credit card late fees encourage people to pay on time and in full, and capping fees is unfair because those fees are clearly spelled out on statements. #finance #credit #creditcard #debt
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