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Turns Out Biden May Not Have Power To Set Credit Card Late Fees At $8; Injunction Granted
Posted on 5/13/24 at 7:14 am
Posted on 5/13/24 at 7:14 am
Biden executive order declaring all credit card late fees at $8. Injunctive relief prohibiting such granted by Judge Mark Pittman, Northern District of Texas.
Injunction is an extraordinary remedy usually granted only to correct egregious overreach or damage and in cases with a strong likelihood of success. We will see how the case proceeds.
So, it turns out Biden may not have the authority to set credit card late fees at $8.
No link but it’s all over the news. Look it up if you wish.
Injunction is an extraordinary remedy usually granted only to correct egregious overreach or damage and in cases with a strong likelihood of success. We will see how the case proceeds.
So, it turns out Biden may not have the authority to set credit card late fees at $8.
No link but it’s all over the news. Look it up if you wish.
This post was edited on 5/13/24 at 7:45 am
9
Posted on 5/13/24 at 7:20 am to LuckyTiger
He didn't have the authority to cancel student loans, mandate the vax, or issue an eviction moratorium either
Posted on 5/13/24 at 7:23 am to LuckyTiger
Of course the courts are willing to side with Banks over Biden 
Same team anyway.
Same team anyway.
Posted on 5/13/24 at 7:27 am to LuckyTiger
Who, in their right mind, would think a President has the authority to determine the amount of late fees on credit cards? shite, why not just write an EO demanding everyone must eat oatmeal for breakfast every Tuesday morning? Or an EO stating that only the President may wear the color blue?
Clown. World.
Clown. World.
Posted on 5/13/24 at 7:31 am to Brosef Stalin
quote:
He didn't have the authority to cancel student loans, mandate the vax, or issue an eviction moratorium either
And yet, Trump is the authoritarian. Hmmmm
Posted on 5/13/24 at 7:32 am to LuckyTiger
quote:
Credit Care Late Fees
Is this a late fee for not paying a hospital bill? Sorry, I'm not familiar with Credit Care.
Posted on 5/13/24 at 7:34 am to LuckyTiger
quote:
Biden executive order declaring all credit card late fees at $8.
This is some dumb liberal thinking here. And counterproductive to the feds current economic policy
The credit card companies are not going to lose money, they will shift fees. The consumer is already eating most merchant fees these days. But hey, it sounds good so why not just throw it out there
Posted on 5/13/24 at 7:39 am to LuckyTiger
Ironically all the banks are based in Delaware, his home state, because of favorable legislation he gave them.
Posted on 5/13/24 at 7:50 am to Bard
quote:
Clown. World.
This is an actual excerpt from an AP article that was published when Biden announced the $8 late fee order…
quote:
The president also noted that companies are effectively raising prices by putting fewer potato chips in the bags sold at grocery stores. Even the “Sesame Street” character Cookie Monster has noticed so-called “shrinkflation” by saying on social media that he’s paying more for fewer cookies, Biden said. The strike force will be led by the Justice Department and the Federal Trade Commission, according to a White House statement.
The adults.
They’re back in the room.
Posted on 5/13/24 at 7:52 am to LuckyTiger
quote:
Turns Out Biden May Not Have Power To Set Credit Card Late Fees At $8;
The lowest I can find laid out in the constitution is $15.
Posted on 5/13/24 at 8:35 am to Brosef Stalin
quote:
He didn't have the authority to cancel student loans, mandate the vax, or issue an eviction moratorium either
Or raid the SPR every month in 2022 in a non-wartime environment. What's the common theme with all of these overreaches? It's that spineless chickenshite Congress never did anything with their checks n balances power.
This post was edited on 5/13/24 at 9:07 am
Posted on 5/13/24 at 8:40 am to LuckyTiger
Did people actually think that this is something a pResident could do?
Posted on 5/13/24 at 11:30 am to OysterPoBoy
quote:
The lowest I can find laid out in the constitution is $15.
Aha you see according to an obscure clause in Article II section IV, it's actually $3.50
Posted on 5/13/24 at 11:33 am to LuckyTiger
What’s a late fee?
Posted on 5/13/24 at 11:33 am to Wednesday
quote:
Of course the courts are willing to side with Banks over Biden
How can POTUS set penalty limits on private company rules?
This post was edited on 5/13/24 at 11:34 am
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