Judge blocks Biden administration rule capping credit card late fees at $8
Judge blocks Biden administration rule capping credit card late fees at $8
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.
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.
Gotta love how it's always one asshole judge in Texas that can stop legislation for the whole country.
Infuriating thing was, this judge was clearly shopped for, but he kicked the case to the DC district Court instead of Texas. He himself even accused the banks of venue shopping in the ruling when he did so! Unfortunately the DC district court sent it right back and said he still had to take the case. He should have recused himself at that pont anyways given his stock holdings and things, but he now decides to reward the the banks for their venue shopping he's clearly aware of. Judiciary is rotten.
https://www.yahoo.com/news/texas-judge-moves-fee-case-232103686.html
""Gotta love how it's always one asshole
judgetrump appointee in Texas that can stop legislation for the whole country.""It's a single judge in Texas + an enabling appeallate system
I want stories like this bombarded at the morons on here saying Biden does nothing and both sides are the same.
This Trump fucker is actively fighting for mega corps.
It doesn't matter to them. They think all they have to say is "Genocide Joe" and they've made their argument.
Bandwagoning tiny shit like "credit card fees" is not going to change the number of deaths he has funded. But that never was your concern tho, was it?
It's about "Biden does good thing for us so we can excuse a genocide he's causing"?
Come back when you grow up and you're done circlejerking on petty little things that your team does.
"Look, I know Biden actively supports genocide. But if you point that out, then really it is you who is the bigger supporter of genocide. By not supporting Genocide Joe, you are actually a Trump voter."
Give me a break. Maybe you're the problem if your satisfied supporting a party who's political leanings are so flexible that the only metric they cling to is remaining slightly to the left of the GOP, no matter how far to the right that keeps pushing them.
The Democrats are already a center right party. At this rate, when the GOP goes full National Socialist Workers Party, the Democrats will adopt the Tea Party's politics.
But hey, at least they'll still be to the left of the GOP, right?
I want stories like this bombarded at the morons on here saying Biden does nothing
Biden putting up rules and then failing to enforce them because of a predictable Texas appeallate court issuing a predictable injunction amounts to nothing.
Biden had the opportunity to pack the courts back in 2021 and... didn't. He still has the opportunity, right now, while he has a Senate majority.
This isn't just a Biden problem. I could name a dozen of Senate Dems who paved the way for a stacked court, going back to the McCain-friendly Democrats caving to Frist's Nuclear Option back in 2005 (senior senator from Delaware whatsisface notwithstanding).
But this is a kind of learned liberal helplessness, when a guy like Biden can throw you an empty headline and get "See! He tried to do something! We just need to give him 2009 supermajorities before they'll work!" Meanwhile, if any Republican wins any branch of any level of government, that's all they need to eviscerate democracy forever.
I'm more willing to give Biden credit when he's blocked by trump appointed judges than I am when he's blocked in the senate by members of the party he nominally heads.
We don't yet know if he actually did anything here or not, we will find out when the legal challenges are done. On one hand, it may survive, in which case something was actually accomplished, on the other hand, Biden may have wasted a whole bunch of people's time and clogged up the courts even more than they already are.
WTF kind of logic is this? Are you saying he shouldn't even try and just sit with his thumbs up his ass rather than try to accomplish good things because a court may block it? Should we all just throw our hands up and give up doing anything at all?
That's a terrible argument. And love how you blame the obstructionism on the one being obstructed from accomplishing their goals.
So, no, we have already seen the action. He did something. Will the sociopathic fascist a-holes in government overturn the action ALREADY TAKEN is what remains to be seen.
Lmfao. So biden bad. Got it.
See, Biden is doing things. Don’t eat the Russian misinformation troll’s onion.
Also a good example of how executive orders are not the end-all-be-all solution for problems that could in theory be solved by the executive alone. We shouldn't be blaming Biden for not doing things that ultimately are the responsibility of legislative inaction.
It's still bullshit that this was blocked, and definitely raises suspicion that the judge in question is bought and paid for by the banking industry, or at the very least, a Trump appointee who doesn't think twice about looking the other way if it helps Don the Con.
The Generally Obstructive Party will block this and then specifically bring up he didn't do shit about it. Their base won't even check that he tried and will say he tried because he knew it would fail, and they don't want lower credit card fees anyway.
US District Judge Mark T. Pittman, an appointee of former President Donald Trump
This is where we share reaping what we sowed with the long term secondary and tertiary damage from electing Donald Trump (and by extension, giving the Federalist Society carte blanche to re-form the judiciary in their hateful, spiteful image). They will continue to happen for decades to come (and will often be blamed on the liberals/progressive currently in power because they'll be the only ones trying to do anything to fix it).
The future's looking bright, guys
Aren't those guys kinda anti-federalist, except where it benefits them?
Ah yes. Late fees. Something that clearly contributes to our society.
Yeah, better than nothing, but wouldn't have been enough.
Another example why it never pays off to go after moderate solutions. Republicans will fight everything equally as hard, so why not actually try for a lot?
At least then when things actually make it, they cause a difference
The things that actually make it trend to be the things that can get enough centrist support to overcome Republicans. Or on the rare occasion when Democrats can cut Republicans out of the process entirely (ie budget reconciliation)
Without late fees there is no incentive to pay on time. I don't understand the rationale to remove them entirely, though regulating maximums makes sense.
I disagree. The 20-30% interest a lot of credit cards have is enough of a reason to pay on time.
Good ol’ Christian Right wanting a Christian Nation while defending banks and ignoring their Jesus who destroyed the money lenders’ tables.
They probably see the wrong in the money lenders as simply doing their business in the temple, rather than the practice itself.
It shocks me that people are still shocked that American Christians dont read the bible or have any idea whats in it.
Especially when they, as a group, spend damn near every waking moment violating mathrew 6:5-6:8
The problem is you can interpret it however you want. It's very easy to justify defying almost any of Christ's teachings with some fun wordplay. Matthew 6:5-8 is about performative worship, and Christians don't do performative worship you see, they are actually worshiping so it doesn't count. Not sure how they weasel themselves out of Matthew 6:14-15 though
They read the parts they want. They hear what they’re told to believe by their preachers. In the end it doesn’t matter, they just interpret it how they want and disregard the rest.
The one time Jesus got angry. Go figure...
Edit: on record. I guess he could've had some pretty terrible 2s, or something, that we don't know about.
"Whoa hold on, think about the poor oligopoly" -some republican judge, probably
The next president needs to pack the Federal court benches. I am getting so tired of right wingnuts upending democracy with these BS rulings.
This kind of stuff is absolutely the number one failure of Democrats. They want to play fair and by the rules, so when there's opposition to their appointments they just lie down and accept it until the Republicans get exactly who they want. Meanwhile the Republicans will lie, cheat, and slander their way to anything they want, including getting ultra-conservatives in on positions that aren't supposed to be political.
Biden's been way better in this regard which is part of what makes him way better than previous Democrat presidents. But I still don't have high hopes for "the party of compromise" in getting progressives in these kinds of positions. In particular, we all remember what happened at the end of Obama's presidency with supreme court judges and Roe v Wade.
My personal saying has always been: Democrats rule with incompetence. Republicans rule with spite and malice.
Of course it's Texas.
I remember how frequent "legislating from the bench" came up on the news - Is the GOP up in arms about this one?
"activist judges" was the term I remember, but only when right wingers were
projectingcomplaining about liberal judges...I hate this timeline so much. Lie lie lie lie lie and get their way.
Idk if it's this one, but there's one Texas county they love ramming these things through because there's only one judge and he's a hardcore trumper.
It's a federal judge, Texas is incidental here
The 5th circuit is a treasured location to forum shop to get the outcome the plantiffs are looking for.
https://prospect.org/justice/2024-04-15-americas-fifth-circuit-problem/
But both sides! They're the same! Blah blah blah. Politicians are politicians, but the Republicans do absolutely nothing to actually better the lives of their voters. Republicans answer only to the pursuit of absolute power and their wealthy donors. End rant....
Any websites that keep score on judges? We may not get to vote on federal judges, but some of us get to on others.
Someone needs to build Yelp but for judges.
OK... so this is weird. The Supreme court just upheld that the funding structure of the CFPB was constitutional overruling the 5th circuit ruling that the CFPB funding structure was unconstitutional... But THIS federal judge just used the 5th court unconstitutionality ruling as the basis for why this CFPB credit card rule was unconstitutional (the CFPB is unconstitutional so any decision they make is invalid). It seems like he's leaning on a just overturned ruling to make this decision. Is this just a case of a timing error where everything in the credit card fee case was filed before he Supreme Court overruled the 5th circuit's ruling or is there another argument there?
It’s the 1% getting what they paid for.
There's also a sort of trend where injunctions preserve the status quo. By granting the injunction fees change at most once regardless of the ruling.
Guillotines exist for a reason.
Enough Modern Aristocrats need to feel the heat and things would change
Wait, the Chamber of Commerce is conservative? Is that all of them?
US Chamber of Commerce is a Conservative lobby group with a name meant to sound innocuous. Local CoCs run the gamut but are generally for small to mid businesses to network and collectively engage when the local government. Kinda like a union but for bosses.
Damn, that’s entirely right, it’s a union for the owner class.
It's just a made up private company like the better business bureau. The try to seem official or related to government but it's just another company.
That makes sense. Thanks
did Joe Biden know he was going to do this
??? Do what?
The CFPB agency announced it would no longer allow credit card companies to adjust fees based on inflation, a loophole in the CARD act, and then a federal judge appointed by Trump blocked it.