CSPAN President July 4, 2024
[background noises] the president of the United States accompanied by director of Consumer Financial bureau. Good afternoon. Whether it is a credit card bill, internet bill, grocery bill anything■ else in a monthly budget, President Biden has been focused on promoting competition. At lowering costs and stopping profiteering. Today we are taking action to stop excessive fees in the banking industry. We are closing a loophole abused by the credit card industry for yeso harvest billions of dollars in junk fees. Reducing the typical late fee from 32 down to 8 saving americans an estimated 10 bil...