{"id":1029917,"date":"2024-03-05T19:17:23","date_gmt":"2024-03-05T19:17:23","guid":{"rendered":"https:\/\/democrats.org\/?p=1029917"},"modified":"2024-05-15T20:34:27","modified_gmt":"2024-05-15T20:34:27","slug":"new-president-biden-keeps-lowering-costs-for-hardworking-families-by-slashing-credit-card-fees-for-millions-of-americans","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/new-president-biden-keeps-lowering-costs-for-hardworking-families-by-slashing-credit-card-fees-for-millions-of-americans\/","title":{"rendered":"NEW: President Biden Keeps Lowering Costs for Hardworking Families by Slashing Credit Card Fees for Millions of Americans"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

In response to President Biden announcing new rules to cap credit card late fees, <\/em>DNC Rapid Response Director Alex Floyd released the following statement: <\/em><\/strong><\/p>\n\n\n\n

\u201cPresident Biden is taking on credit card companies and lowering costs for hardworking families with this new rule to slash junk fees for millions of Americans. While President Biden remains laser-focused on bringing down costs and building an economy from the middle out, Donald Trump is campaigning on bringing back his failed MAGAnomics agenda that rigged the economy for the ultra-wealthy at the expense of the middle class. Americans are ready to back President Biden because they know he is fighting for Main Street while MAGA Republicans are only interested in cozying up to Wall Street.\u201d<\/p>\n\n\n\n

NEW: President Biden is continuing to deliver on lowering costs for hardworking families \u2013 and he will keep fighting to cut junk fees to make life better for every American. <\/strong><\/p>\n\n\n\n

CNN<\/a>: \u201cCredit card late fees capped at $8 as part of Biden crackdown on junk fees\u201d<\/strong><\/p>\n\n\n\n

\u201cFederal regulators finalized a rule on Tuesday to cap most credit card late fees at $8 as part of a broader push by the Biden administration to eliminate junk fees.\u201d<\/strong><\/p>\n\n\n\n

\u201c<\/strong>The Consumer Financial Protection Bureau estimates the new regulation, first proposed last summer, will save families more than $10 billion a year by cutting fees from an average of $32.\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cU.S. caps credit card late charges in new Biden crackdown on junk fees\u201d<\/strong><\/p>\n\n\n\n

\u201cThe rules arrived as part of a suite of fresh federal efforts to promote competition and crack down on unfair or illegal pricing across the economy, which President Biden has blasted as one of the primary sources of rising costs facing American families over the past year.\u201d<\/p>\n\n\n\n

Newsweek<\/a>: \u201cCredit Card Fees Slashed for Millions of Americans\u201d<\/strong><\/p>\n\n\n\n

While President Biden works to lower costs for hardworking families, Donald Trump\u2019s MAGAnomics agenda is all about benefiting the rich \u2014 which he has promised to double down on in a second term. <\/strong><\/p>\n\n\n\n

CBS News<\/a>: \u201cTwo years after Trump tax cuts, middle-class Americans are falling behind\u201d<\/strong><\/p>\n\n\n\n

Forbes<\/a>: \u201cTrump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018\u201d<\/strong><\/p>\n\n\n\n

Economic Policy Institute<\/a>: \u201cThe TCJA overwhelmingly benefited the rich and corporations while overlooking working families\u201d<\/p>\n\n\n\n

Trump is actively rooting for the U.S. economy to crash for his own political gain. <\/strong><\/p>\n\n\n\n

Trump<\/a>: \u201cAnd when there\u2019s a crash \u2014 I hope it\u2019s going to be during this next 12 months because I don\u2019t want to be Herbert Hoover. The one president I just don\u2019t want to be, Herbert Hoover.\u201d<\/p>\n\n\n\n

Daily Beast<\/a>: \u201cDonald Trump admitted Monday that he wants a severe economic downturn to happen during the next year, because it will help his odds of winning the presidential election.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

In response to President Biden announcing new rules to cap credit card late fees, DNC Rapid Response Director Alex Floyd released the following statement:  \u201cPresident Biden is taking on credit card companies and lowering costs for hardworking families with this new rule to slash junk fees for millions of Americans. While President Biden remains laser-focused […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1029917","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nNEW: President Biden Keeps Lowering Costs for Hardworking Families by Slashing Credit Card Fees for Millions of Americans - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/new-president-biden-keeps-lowering-costs-for-hardworking-families-by-slashing-credit-card-fees-for-millions-of-americans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-05T19:17:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-15T20:34:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/new-president-biden-keeps-lowering-costs-for-hardworking-families-by-slashing-credit-card-fees-for-millions-of-americans\/\",\"url\":\"https:\/\/democrats.org\/news\/new-president-biden-keeps-lowering-costs-for-hardworking-families-by-slashing-credit-card-fees-for-millions-of-americans\/\",\"name\":\"NEW: President Biden Keeps Lowering Costs for Hardworking Families by Slashing Credit Card Fees for Millions of Americans - 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