New CFPB rule caps banks' credit card late fees at $8

Rohit Chopra, director of the CFPB, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled "The Consumer Financial Protection Bureau's Semi-Annual Report to Congress," in the Dirksen Building on Nov. 30, 2023.Tom Williams | Cq-roll Call, Inc. | Getty Images

The Consumer Financial Protection Bureau unveiled a new rule on Tuesday that it said would c…

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