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Coalition letter urging the CFPB to finalize its proposed credit card late fee protections for consumers

A letter from a wide ranging coalition of  47 consumer, civil rights, and economic justice organizations calling on the White House to finalize a proposal by the Consumer Financial Protection Bureau to protect borrowers from excessive credit card late fees. The coalition’s letter to Biden Administration officials includes a petition organized by Consumer Reports with nearly 40,000 signatures urging it to adopt the proposed reforms, which enjoy widespread public support according to a September 2023 nationally representative CR survey of 2,089 US adults.