Elizabeth Warren actually said...

"Make no mistake. These overdraft reforms and the $5.5 billion in savings would never have happened without the Consumer Financial Protection Bureau."

"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 ..."

"OK. That sounds pretty reasonable to me. So if the banks want to charge more than $8, just come and show your math about why you are charging more than $8, and there is not going to be any problem her..."

"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..."