In February the Consumer Financial Protection Bureau proposed a rule to rein in credit card late fees by lowering the immunity provision that restricts how much banks can charge, ending the annual inflation adjustment that permits banks to increase fees each year and capping fees at 25% of a cardholder’s minimum payment. The CFPB is reportedly reviewing some 57,000 comments on the proposed ruling which could be finalized this year despite strong resistance from banks and credit unions.
In this Insider Insights video, Andrew Davidson, Biota Macdonald and Anjali Ambani discuss the implications of the proposed rule and reveal how banks have responded so far. Our experts will be staying on top of developments as they unfold and will follow up with new videos in the coming weeks.
Andrew Davidson, Chief Insights Officer at Mintel Comperemedia, is a leading authority in financial services marketing, providing expert insights through his articles, industry speaking engagements, and as host of the Mintel Little Conversation podcast.
-
Subscribe to our Free NewsletterGet the latest news and analysis straight to your inbox with our newsletter....Subscribe -
Download the Latest Market Intelligence
-
Omnichannel MarketingDownload
2025 Omnichannel Marketing Trend To Watch
Learn how marketers are revitalizing their strategies by embracing AI and data analytics to create hyper-personalized experiences in 2025 and beyond.Download -
Financial ServicesDownload
2025 Financial Services Marketing Trends
Navigate challenges and leverage our insights into key financial services trends that are set to influence the financial services market in 2025 and beyond.Download -
InsuranceDownload
2025 Insurance Marketing Trends
Learn how insurance brands are evolving their marketing strategies to keep pace with technological advancements and changing consumer behaviors in 2025 and beyond.Download -
Telecom and MediaDownload
2025 Telecom & Media Marketing Trends
Discover how telecom and media brands are shifting towards more claims-based messaging in their marketing innovation strategies in 2025 and beyond.Download -
Financial ServicesDownload
Paid Search Trends in Financial Services for 2024
Paid search trends for 2024 evolve around maximizing discovery and effective spend to capitalize on the enduring consumer popularity of the channel.Download
