Credit card late fees capped at $8 under Biden crackdown on 'junk fees'

The Biden administration finalized a rule Tuesday that will close a loophole to slash fees charged by companies from an average of $32 to $8.

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While they're at it, why not cap processing fees as junk fees? It for sure doesn't cost 2.9% of your grocery bill to facilitate the payment- it's all automated and there's little to no labor involved in the actual processing, it's just collecting economic rent
- Or 30% to deliver an app.
  
  Fuck it, just make everything free

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