Credit card users paid $130 billion in fees, interest in 2022, federal watchdog says
Publishing timestamp: 2023-10-25 13:46:18
Summary
The article discusses a new report by the Consumer Financial Protection Bureau, which states that American cardholders paid $130 billion in interest and fees in 2022. Late fees were found to be the most significant penalty charged to cardholders. The article also mentions proposed changes to reduce late-payment fees and the importance of monitoring credit card statements and contacting card issuers for assistance.
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Keywords: business news, interest rates, personal finance, credit cards, products and services, lendingtree inc, winnie sun,