Trump-appointed judge halts Biden administration credit card late fee cap

A Texas judge appointed by former President Trump halted a Biden administration rule aimed at reducing credit card late fees to $8. The rule, which would have saved consumers over $10 billion annually, was blocked following a lawsuit by the US Chamber of Commerce, arguing it violated federal laws. The decision is seen as a win for credit card companies and banks, while the Chamber of Commerce praised the ruling for supporting "responsible consumers" and businesses offering affordable credit.