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Drudge Retort: The Other Side of the News
Tuesday, April 15, 2025

The Trump administration just handed U.S. credit card companies a regulatory gift and investors are taking notice.

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Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

"Judge Mark Pittman, a Trump appointee, had already blocked the rule back in December, calling it a violation of the Credit Card Accountability and Disclosure Act. That law allows reasonable penalty fees tied to costsnot a hard ceiling. Monday's joint filing from the CFPB and the business lobby confirms what many expected:

Trump isn't defending Biden's fee clampdown he's dismantling it.

On top of that, a federal appeals court just cleared the path for trimming CFPB staff, another step in weakening the agency without triggering a full legal showdown.

Why does this matter for markets? Because fee income is big business.

Late fees account for billions in recurring revenue, and with the cap gone, those earnings are safe for now. That regulatory clarity is bullish for credit card stocks, especially heading into earnings season.

Trump's move just reopened a lane for higher margins. If you're holding COF, AXP, or any lender with over a million cardholders, you're likely sitting on a quiet win."

;;

"Trump is For the Little Guy!"

Right, Trumpers?

#1 | Posted by Corky at 2025-04-15 03:17 PM | Reply

I haven't owned/used a credit card in 25 years so this won't affect me but all the high debt mouth breathers that voted for him are in for an ugly surprise.

#2 | Posted by qcp at 2025-04-15 03:25 PM | Reply | Newsworthy 2

QCP, how do you travel, especially internationally?

#3 | Posted by mattm at 2025-04-15 08:55 PM | Reply

Isn't it bad enough the card companies get 1-3 percent of damn near every retail transaction in the developed world? Losing money? BS!

#4 | Posted by Whatsleft at 2025-04-15 09:22 PM | Reply

#3,

Airplanes.

#5 | Posted by qcp at 2025-04-16 08:50 AM | Reply | Newsworthy 1

If you think a billionaire is looking out for you, you're a special kind of stupid.

#6 | Posted by Nixon at 2025-04-16 08:57 AM | Reply

Wasn't Delaware Joe Biden, the lifelong pro big bank political hack the King of big consumer credit?

Biden is probably still living off the fruits of his credit card "Public Service". Opportunist was the true definitive mission of Delaware Joe. Biden never ever served America in his years of time wasting time in office. No library ever for Joe Biden. Kick out his corrupt anti USA, anti women pals like Pelosi, Schumer,Schiff, etc.

Democrat leadership and leftist culture has been tainted and corrupt and should be excluded from ever controlling our government.

#7 | Posted by Robson at 2025-04-16 10:51 AM | Reply

Democrat leadership and leftist culture has been tainted and corrupt and should be excluded from ever controlling our government.

POSTED BY ROBSON

This is still a democracy friend. Any party can run a candidate for President. Anyone who is eligible can run.

Be a natural-born citizen of the United States

Be at least 35 years old

Have been a resident of the United States for 14 years

And you are eligible.

Your posts are being you are being saved for the next administration too. If there is a reward for every Nazi turned in then I am definitely collecting.

#8 | Posted by donnerboy at 2025-04-16 11:09 AM | Reply | Newsworthy 1

Doe 174 Just Caved to Big Pharma - Again

www.commondreams.org

#9 | Posted by reinheitsgebot at 2025-04-16 11:16 AM | Reply

HaHA snarky MCQrc, I didn't know you could still purchase a plane ticket with cash or a check. Perhaps you use a debit card?

#10 | Posted by mattm at 2025-04-16 05:23 PM | Reply

Wasn't Delaware Joe Biden, the lifelong pro big bank political hack the King of big consumer credit?

#7 | Posted by Robson

So why did biden put a limit on these fees?

And how does raising the limit on fees make america great?

#11 | Posted by SpeakSoftly at 2025-04-16 06:29 PM | Reply

Democrat leadership and leftist culture has been tainted and corrupt and should be excluded from ever controlling our government.

#7 | Posted by Robson

Funny that's why I say about the cult that attempted a coup against the constitution and is now dismantling our democracy.

#12 | Posted by SpeakSoftly at 2025-04-16 06:30 PM | Reply

Robson is a Nazi

#13 | Posted by hamburglar at 2025-04-16 07:02 PM | Reply

Trump is a traitor and an enemy of the people.

#14 | Posted by LegallyYourDead at 2025-04-17 12:27 AM | Reply

@#7 ... Wasn't Delaware Joe Biden, the lifelong pro big bank political hack the King of big consumer credit? ...

I dunno.

What evidence yer got?

#15 | Posted by LampLighter at 2025-04-17 12:35 AM | Reply

@#11 ... So why did biden put a limit on these fees? ...

More importantly, why does it look like Pres Trump is going to undo that limit?

Donald Trump Set to Change Bank Overdraft Fees
www.newsweek.com

... A Biden-era rule that capped most bank overdraft fees at $5 is on the verge of being scrapped after the U.S. House of Representatives recently joined the U.S. Senate in voting to repeal it.

The legislation now awaits President Donald Trump's signature, which is expected later this week.

Newsweek has contacted the White House for comment on this story via email.

Why It Matters

The reversal, made possible under the Congressional Review Act, would overturn one of former President Joe Biden's consumer protection initiatives. ...




#16 | Posted by LampLighter at 2025-04-17 12:41 AM | Reply

Tanya Donelly - Pretty Deep (1997)
www.youtube.com

Lyrics excerpt ...

genius.com

... [Verse 1]
Do I look like a liar?
Do I look like a liar to you?
Fighting crime in this time brings a girl down
Makes a body sink so low

[Chorus]
And I sink pretty deep, pretty deep, pretty deep
I sink pretty deep, pretty deep, pretty deep

[Pre-Chorus]
I wish I carried a camera
I'd have proof that you're never where you say
I wish I could fly up in a helicopter
I'd shine a blinding light on your escape
Better to show you

[Chorus]
That I'll sink pretty deep, pretty deep, pretty deep
I'll sink pretty deep, pretty deep, pretty deep

[Verse 2]
Do I look like a crier
Do I look like a cry baby to you
Fighting fire in this town wears a man out
Makes a body break so slow

[Pre-Chorus]
Remember when we all went out to Fire Island
You thought you saw a body on the beach
When we got closer it was just a tyre
And you were disappointed I could see
So I pretended
...



#17 | Posted by LampLighter at 2025-04-17 12:47 AM | Reply

Hopefully Trump as a business pragmatist will recognize the need for balance when it comes to regulation and need for protection and evaluation of things like fees. Every business sector needs transparency, controls and balance, and that they not be allowed to run totally wild and willy nily against consumer and employee interests or any other interest such as the communities with a vested stake. Mergers and acquisitions too need to be more deeply evaluated.

#18 | Posted by Robson at 2025-04-17 01:01 PM | Reply

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