FTFA: `Millions of Americans could soon see lower credit card bills after a federal rule that caps late fees at $8 a month was finalized on Tuesday by the Consumer Financial Protection Bureau, which estimates that the change will save households $10 billion a year.`
This is the government enabling more irresponsibility.
Who is saving money here? Responsible households, or irresponsible households?
Who misses credit card payments? Responsible people?
> All the government is doing is simply reducing the fees.
Wrong. The government is reducing the consequences of being financially irresponsible. When something has less negative consequences, can we expect to get more or less of it?
