Fee income

In a letter to JPMorgan Chase CEO Jamie Dimon, the Democratic senators said he should "put on hold any plans" to raise fees on checking accounts due to higher regulations.

In a win for credit card issuers, a lawsuit challenging the Consumer Financial Protection Bureau's $8 credit card late fee rule will remain in a Texas court and not be transferred to Washington, D.C.

PNC has cut its credit card late fees to $8, and Wells Fargo has eliminated the charges on one new card. The moves signal that issuers are already adjusting to a CFPB rule that's currently on hold amid a court challenge.

While banks with less than $10 billion of total assets would not be forced to comply with the $14 cap, many would adopt it or make other changes to stay competitive with larger banks, survey finds.

A federal appeals court is putting the transfer of a lawsuit challenging the Consumer Financial Protection Bureau on hold pending the outcome of a hearing on the suit's appropriate venue.

President Joe Biden is expected to lean in on banking issues such as credit card late fees and overdraft fees Thursday evening in his annual address to Congress. However, he likely will avoid the topic of financial-sector stability, even amid a private-sector rescue of New York Community Bancorp.

The Consumer Financial Protection Bureau will release a final rule Tuesday that is expected to save consumers $10 billion a year in credit card late fees. The rule is part of a larger effort by the White House to crack down on illegal fees and price hikes that President Biden will address in the State of the Union.

The Consumer Financial Protection Bureau will take a bite out of bank profits in 2024 by issuing final rules on overdraft and credit card late fees, among other major rulemakings.

The Pennsylvania bank has agreed to sell its Exchange Underwriters subsidiary to World Insurance Associates for $30.5 million, saying that the deal will help pad its capital and liquidity.

The Consumer Financial Protection Bureau found that more consumers are being charged late fees, while determining that the average cardholder carried $5,288 in total credit card debt last year.