skip to main content
skip to newscasts

Saturday, June 15, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

The Supreme Court throws out a Trump-era ban on gun bump stocks; a look at how social media algorithms and Shakespearian villains have in common; and states receive federal funding to clean up legacy mine pollution.

view newscast page
play newscast audioPlay

The Supreme Court for now protects access to abortion drug mifepristone, while Senate Republicans block a bill protecting access to in-vitro fertilization. Wisconsin's Supreme Court bans mobile voting sites, and colleges deal with funding cuts as legislatures target diversity programs.

view newscast page
play newscast audioPlay

As summer nears, America's newest and largest international dark sky sanctuary beckons, rural job growth is up, but full recovery remains elusive, rural Americans living in prison towns support a transition, while birth control is more readily available in rural areas.

CFPB late fee rule could save NYers money

play audio
Play

Monday, May 20, 2024   

New Yorkers could benefit from a new Consumer Financial Protection Bureau rule. It caps credit card late fees at $8, or - at the credit card company's discretion - 25% of the minimum balance due.

Consumers in New York and across the country would save about $220 per year.

But Rebecca Garrard, deputy executive director of Citizen Action of New York, said the rule is under fire in Congress.

"We have a problem with some of our congressional representatives who oppose measures such as this," said Garrard. "It's both problematic from a policy standpoint - and quite frankly confusing from a political standpoint, when you think about what the will of their constituents are."

The House Financial Services Committee voted to overturn this regulation a few weeks ago.

Garrard and others ascribed this to Rep. Andrew Garbarino and Rep. Mike Lawler of New York and other committee members who voted for the rule receiving money from corporate donors opposed to the rule.

Despite this,
polls show reducing credit card late fees has strong support across party lines.

Aside from CFPB protections being under fire, the agency itself just survived a Supreme Court challenge from conservative groups.

Kimberly Fountain - consumer financial justice field manager with Americans for Financial Reform - said with the decision out of the way, the CFPB can get back to work.

"They're working on requiring fairer credit reports," said Fountain, "reducing the harm of medical debt collection, fighting inequity in home appraisals, increasing consumer rights to control their own data, and much more."

She said she expects battles on consumer protections to continue in Congress.

Other rules the agency worked on include closing a loophole exempting overdraft fees from Truth in Lending Act provisions.

In the early years of the pandemic, New Yorkers paid close to $1.5 billion in overdraft fees.



Disclosure: Americans for Financial Reform contributes to our fund for reporting on Budget Policy & Priorities, Campaign Finance Reform/Money in Pol, Social Justice. If you would like to help support news in the public interest, click here.


get more stories like this via email
more stories
The wells providing water on Santee Tribal lands had manganese levels more than 50 times greater than what is considered safe for adults. Excessively high manganese can cause problems with memory, attention and motor skills. (Adobe Stock)

Social Issues

play sound

Members of the Nebraska Santee Sioux Tribe hope a solution to their five-year water ordeal may be on the way. Their tap water has been unusable for …


play sound

Hurricane season is here, and conservationists are shining a light on the role salt marshes play in protecting coastal North Carolina communities…

Social Issues

play sound

This weekend, Father's Day will be tough for children with a dad in jail or prison. More than 200,000 kids in Michigan have had an incarcerated …


Social Issues

play sound

Local election administrators have new guidance from Wisconsin's highest court on alternative early voting sites. A political expert says the timing …

Between 2017 and 2022, Minnesota saw a more than 30% increase in farm acres planted with cover crops. (Adobe Stock)

Environment

play sound

When Minnesota farmers watch their crops grow this summer, some will monitor land that has better soil health. It's because of a fairly popular …

Environment

play sound

West Virginia will receive $140 million to clean up legacy pollution in regions decimated by decades of coal mining. The money is part of $725 …

Environment

play sound

Close to 200 events are planned now through Sunday at California state parks for the third annual State Parks Week. The events advance Gov. Gavin …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021