Regulators are slashing credit-card late fees. When will customers see the charges shrink?

Federal regulators are slashing credit card late payment fees. The Consumer Financial Protection Bureau finalized a rule on Tuesday that caps credit-card late fees at $8, a fraction of what most issuers typically charge.  The rule is part of a broader campaign within the Biden administration taking aim at so-called junk fees. It’s been sharply criticized by card issuers and lobbyists, who say fees that low don’t cover the cost of customers falling behind and won’t do enoug