A federal judge in Fort Worth, Texas, on Friday blocked a new Biden administration rule that would prohibit credit card companies from charging customers late fees higher than $8.
US District Judge Mark T. Pittman, an appointee of former President Donald Trump, granted a preliminary injunction to several business and banking organizations that allege the new rule violates several federal statutes.
These organizations, led by the right-leaning US Chamber of Commerce, sued the Consumer Financial Protection Bureau after the rule was finalized in March. The rule, which was set to go into effect Tuesday, would save consumers about $10 billion per year by cutting fees from an average of $32, the CFPB estimated.
I imagine this judge made a fat stack of cash if this. Even if you delay it a year, think of how much money the banks can make extra.
… 10 billion. It says so in the summary.
The judge was probably persuaded by 10k only
It is surprisingly inexpensive to buy a US congressperson or a senator. So yeah, I’d bet less for a judge.
The going rate is a vacation RV for a SCROTUS. A gift card to the olive garden might be enough for some judges.