WASHINGTON : The White House on Wednesday was due to announce fresh efforts to slash credit card late fees and drive down the prices that Apple Inc and Google parent Alphabet Inc charge on mobile app stores, part of a larger policy drive to promote competition in consumer markets, officials said.President
WASHINGTON : The White House on Wednesday was due to announce fresh efforts to slash credit card late fees and drive down the prices that Apple Inc and Google parent Alphabet Inc charge on mobile app stores, part of a larger policy drive to promote competition in consumer markets, officials said.
Biden, who is expected to announce a bid for re-election in the coming weeks, has also been slamming Republicans for their refusal to approve an increase in the U.S. debt ceiling unless there is a deal on spending cuts. Wednesday's announcement coincides with a scheduled meeting between Biden and House Speaker Kevin McCarthy that is likely to mark the start of protracted maneuvering on raising the $31.4 trillion borrowing cap.
Chopra said such fees far exceeded any additional costs that lenders incurred and said the rule would cap a regulatory threshold at $8, a level indicated by CFPB data analysis.
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