![U.S. President Joe Biden speaks during his visit to the U.S.-Mexico border in Brownsville, Texas, U.S., February 29, 2024.](https://imagenes.elpais.com/resizer/v2/B6IHMB6RXUBXM5PG3QKYHP3W2U.jpg?auth=6ed4ee6f8814b95d9f1e51945d0a6e967e21d278cf9dccc57270fa7a9e354f1f&width=414&height=233&smart=true)
Regulator proposes capping credit card late fees at $8, latest in Biden’s campaign against junk fees
The rule would bring the average credit card late fee down from $32. The bureau estimates banks brought in roughly $14 billion in credit card late fees a year