How’s this for irony? The Consumer Financial Protection Bureau, which has aggressively pursued questionable practices by credit card companies, has now issued rulemaking that may benefit them at the expense of customers.
The Bureau has formally amended a 2011 rule the Federal Reserve Board issued on credit card fees. A federal court ruling last year granted a preliminary injunction to block a part of it from taking effect, in response to a lawsuit brought by First Premier Bank, a credit card issuer, over the total fees a consumer could be asked to pay prior to opening an account.
