return2ozma@lemmy.world to News@lemmy.world · 9 months agoCredit card late fees capped at $8 under Biden crackdown on 'junk fees'www.usatoday.comexternal-linkmessage-square122fedilinkarrow-up1889arrow-down112
arrow-up1877arrow-down1external-linkCredit card late fees capped at $8 under Biden crackdown on 'junk fees'www.usatoday.comreturn2ozma@lemmy.world to News@lemmy.world · 9 months agomessage-square122fedilink
minus-squarebrianorca@lemmy.worldlinkfedilinkarrow-up4·9 months agoBut the fees for check processing were already baked into the system before credit cards even existed, so they’re not allowed to charge extra for a check, no matter how much they want to be rid of them.
minus-squareEatspancakes84@lemmy.worldlinkfedilinkarrow-up4·9 months agoThese systems can change as they have done everywhere except in the US. In most of Europe digital transfers are free and checks virtually nonexistent.
But the fees for check processing were already baked into the system before credit cards even existed, so they’re not allowed to charge extra for a check, no matter how much they want to be rid of them.
These systems can change as they have done everywhere except in the US. In most of Europe digital transfers are free and checks virtually nonexistent.