Warren, Whitehouse demand Chamber explain decision to sue CFPB ...Middle East

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Warren, Whitehouse demand Chamber explain decision to sue CFPB
Two Democratic senators are demanding answers from a pro-business lobbying giant regarding its “outrageous and unwarranted” lawsuit against a consumer watchdog agency. In a Sunday evening letter to the U.S. Chamber of Commerce President Suzanne Clark shared exclusively with The Hill, Sens. Elizabeth Warren (D-Mass.) and Sheldon Whitehouse (D-R.I.) questioned the Chamber’s decision to sue the Consumer Financial Protection Bureau (CFPB) last month over a new rule to cap credit card late fees at $8. The $8 cap, which only applies to large card issuers with more than 1 million open accounts, is 75 percent less than the current average late fee of $32. The CFPB estimates the rule would s

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