CFPB backs off proposal to limit upfront fees on credit cards

04/12/2012 | Bloomberg Businessweek · Hill, The

The Consumer Financial Protection Bureau is easing a proposed limit on first-year credit card fees, saying the plan would end up costing consumers more money. The Federal Reserve first proposed the rule, which came under the CFPB's jurisdiction once it opened. Some observers said the move demonstrates that the agency will seek to balance consumer and bank interests.

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Bloomberg Businessweek · Hill, The

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