Updated: Friday, 6:40 p.m. to add bureau comment.
I wrote a story for Thursdays paper about a Consumer Financial Protection Bureau proposal that would actually make it easier for credit card issuers to charge hefty upfront fees.
To quickly recap: A relatively new law said that credit card issuers had to limit the fees they could charge to borrowers in the year after the account was opened. So after some card issuers started charging application or processing fees before consumers’ accounts were opened, regulators added a rule applying the fee limit to those upfront charges, too. T
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