Elizabeth Warren actually said...

"So each year credit card companies squeeze billions of dollars in fees out of American consumers, and chief among these are the late fees that you were just discussing, the 20 bucks or 30 bucks or 40 ..."

"If a bank needs to charge more than $8 to cover the actual cost of collecting missed payments, would the proposed rule permit that?"

"I have joined my colleagues in signing the amicus brief supporting the CFPB against attacks that undermine the Bureau's ability to fight on behalf of families."

"So it is not an end to late fees. The rule just lowers the maximum amount the credit card companies can charge while getting automatic immunity from enforcement actions, and that dollar figure right n..."