Biden Administration Wants Credit Card Late Fees Slashed to $8

Biden Administration Wants Credit Card Late Fees Slashed to $8
President Joe Biden arrives to speak at the Baltimore and Potomac Tunnel North Portal in Baltimore, Md., on Jan. 30, 2023. Drew Angerer/Getty Images
Bryan Jung
Updated:
0:00

The Biden administration wants credit card late fees to be slashed to $8 and for Apple and Google to reduce the amount they charge on their mobile app stores.

White House officials stated that this is part of a larger policy effort to promote competition in consumer markets.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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