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.

Colorado lawmakers are working to ensure all Coloradans with health coverage for ambulance services are not hit with surprise bills or charged higher out-of-network rates.

Rep. Karen McCormick, D-Longmont, said when patients are in their most vulnerable moments, their focus should be on their health, not navigating coverage loopholes or worrying about affording a bill.

"When people call 911, they don't have a choice on who is going to show up," McCormick pointed out. "They don't have the ability to shop around."

The bill would close a gap in surprise-billing protections passed in 2019 to include the nearly 75% of Colorado ambulance services that are operated by cities, special districts and other political subdivisions. First responders and consumer advocates support House Bill 1088. Some insurance companies are lobbying against the measure and claimed it could lead to higher premiums paid by individuals and their employers.

McCormick underscored the measure would apply to people who already have coverage for ambulance services listed in their insurance plans.

"If indeed these services are covered, if (insurers) are saying it's going to raise premiums, it doesn't make any sense because they should have been covering it all along," McCormick contended. "We do have data that shows that it will not raise premiums."

McCormick noted the bill also provides assurances to ambulance agencies across the state by requiring insurance carriers to pay the full rates set at the local level by cities and other governing bodies. Currently, insurance companies get to decide how much of the rate to pay.

"This is very much a local control issue," McCormick stressed. "It will also create a public-facing website of rates that have been adopted by these political subdivisions."


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States like North Dakota could see unique effects under President Donald Trump's approach to tariffs.

Uncertainty lies ahead, but one expert said consumers should be prepared. Going into this week, prospects were raised about the U.S. imposing tariffs on goods from counties like Canada and Mexico. The plans were paused for a month.

Ernie Tedeschi, director of economics of the Budget Lab at Yale University, said people should expect more of the president's rhetoric and know how to protect their wallets. If tariffs against Canada come back into play, the ripple effect on household budgets could be noticed in certain ways, especially in this part of the United States.

"We import a great deal of crude oil and natural gas from Canada, particularly in the Midwest," Tedeschi pointed out. "There's a heating bill effect. There's also a gasoline bill effect."

A significant percentage of fruits and vegetables come from Mexico but he cautioned against stockpiling them because they will likely expire before they're eaten, wasting your money. Groups like AARP said one way to prepare for possible changes is to find deals on dining out, with restaurants offering more discounts these days.

Lumber imports could become more expensive, with added pressure to rebuild homes lost in the Los Angeles wildfires. Tedeschi recommended if you're considering a home renovation project, it is something to keep in mind. He added if you feel you cannot hold off on a big-ticket purchase, like an appliance, there still could be wiggle room in the short term.

"Electronic stores, for example, get through their nontariff stock before they get to the tariff stock," Tedeschi noted.

Those prices might not escalate as quickly under a rapidly changing trade war if the local company has a big inventory ahead of time.

For durable goods, he emphasized it is all about doing the research to make sure the financial sting is not so bad. Cars are another example.

"Even if you think you're buying an American brand, remember that a lot of American brands are assembled in Mexico and Canada, and would be subject to tariffs," Tedeschi observed. "Or least some parts of them would be subject to tariffs."

While pauses were announced for Canada and Mexico, new tariffs for China were on the table this week.

As Los Angeles starts to recover, residents across the Pacific Northwest are being reminded of the risks wildfires pose.

Timothy Ingalsbee, executive director of the nonprofit Firefighters United for Safety, Ethics and Ecology, said firefighters are quickly overwhelmed by today's fast-moving wildfires. He noted simple, proactive measures such as sweeping your roof of debris, keeping your gutters clean and installing screens on roof vents are cheap and effective ways of protecting homes.

However, such efforts are not just up to individuals, Ingalsbee emphasized, adding homeowners need to approach the problem as a community.

"Because if you do all these things to protect your home but your neighbor doesn't, it's your neighbor's house that will catch fire and then put yours at risk," Ingalsbee explained.

Ingalsbee urged people to keep lawns mowed and warned not to leave flammable objects close to the house. He stressed keeping up on chores, as well as implementing more prescribed burns outside urban areas, will go a long way to protecting communities from wildfires.

Once a fire starts moving house to house, Ingalsbee acknowledged it is almost impossible to control. He added people living rurally as well as in urban areas need to think about safety because embers from wildfires can travel for miles and ignite homes easily.

"If anything is teaching us a lesson now, in this era of climate change, we're all living in the fire zone," Ingalsbee pointed out.

Ingalsbee encouraged everyone to think about their senior or disabled neighbors who may not be able to tend their own homes, and give support as they can. He said everyone should feel empowered to help protect their communities. If we all do our part, Ingalsbee added, wildland firefighters will not be needed to protect homes from wildfires because they will not ignite in the first place.


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