This Week in Credit Cards: CFPB May Revisit Credit Card Late Fees in New Review

Credit card late fees may be returning to the CFPB’s agenda.

The Consumer Financial Protection Bureau has taken an early step toward reconsidering how those fees are regulated, potentially setting up another fight over what card issuers can charge.

From a rulemaking perspective, the CFPB hasn’t been as active during President Donald Trump’s second term as it was during the previous administration. But the bureau has submitted a request for information on credit card late fees for interagency review, an early step that could inform future policy.

The CFPB may reverse course on credit card late fees, banking giants consider buying a debit network from Fiserv, and Ohio wants to ban credit cards in gambling. Find out what else happened This Week in Credit Cards 💳 https://t.co/Xea5SPM6Jy pic.twitter.com/rFIOZloVrt

— CardRates News (@CardRatesNews) July 10, 2026

In March 2024, the CFPB finalized a rule that would have lowered the late-fee safe harbor for larger card issuers from $30 for a first violation and $41 for subsequent violations to $8. The CFPB estimated that the change would save consumers about $10 billion annually.

But that rule ran into legal opposition from banking and business groups. According to CU Today, industry groups had argued that the rule would reduce credit availability, limit rewards programs, and cause interest rates to increase.

The rule never took effect and was ultimately vacated after the CFPB stopped defending it, leaving the previous late-fee framework in place.

Any new late-fee rule could run into similar roadblocks. The request for information is only an early step, but it puts late-fee policy back on the industry’s radar.

Some of the biggest banks in the country are considering purchasing a card network, which could help them capture more revenue from debit card transactions. According to reports, major financial institutions, including Bank of America, Chase, and Wells Fargo, have had talks concerning a deal to purchase a network from Fiserv.

Discussions are still in the early stages, and a deal may not end up happening. But if the banks move forward, cardholders could see changes that affect their debit and credit card programs.

For starters, if banks earn more from each debit card purchase, they could add or enhance rewards on their debit cards. Consumers could also see more attractive bundling options from banks if they begin competing for more debit card volume.

However, a deal between Fiserv and leading banks could have drawbacks for consumers. Should interchange fees rise, merchants could pass on the extra costs they incur to consumers.

Any network agreement between Fiserv and major banks likely won’t take place without a fight. Reports indicate that merchant groups and regulators may push back against such a deal.

Ohio sports bettors may soon be unable to fund wagers with credit cards. The Ohio Casino Control Commission (OCCC) is reportedly putting the final touches on a rule that would prevent people from using credit cards to bet on games.

A survey from earlier this decade found that 20% of people in Ohio are considered “at-risk” gamblers, according to a report from The Statehouse News Bureau, which covers political news in the Buckeye State.

The proposal is intended to prevent bettors from gambling with borrowed money. Derek Longmeier of the Problem Gambling Network of Ohio told the bureau that one of the cardinal rules of low-risk gambling is that bettors should only spend money that they have. Using a credit card to fund a bet may allow a person to wager more than they can afford.

Half a dozen states have already taken action to ban bets from credit cards.

Any traveler who’s ducked into a credit card lounge knows what a game changer it can be. Offering space to escape an overcrowded gate, lounges can help travelers recharge before the next leg of their journey. But credit card lounges are now appearing in areas that have nothing to do with catching a flight.

Leading credit card issuers such as American Express and Chase have started offering lounge experiences at music and film festivals, as well as sporting events.

For cardholders, relaxing in a lounge at a music festival while waiting for their favorite band to hit the stage could be a perk that leaves them with a stronger impression than more traditional card benefits. And that’s something that credit card issuers are likely counting on.

American Express and Chase both raised the annual fees on premium credit card products in 2025. The Platinum Card from American Express now costs $895 per year, and the Chase Sapphire Reserve fee is $795 annually. Those fees could be high enough to give prospective cardholders pause, but lounges at festivals and other events may help justify the costs.

Chenzi Xu, Assistant Professor of Economics at UC Berkeley, explained to CNBC that pop-up lounges are meant to attract someone who perhaps hadn’t noticed the benefits of a particular credit card before. She added that it can only take one element of a card’s rewards program to win over a customer.

Luxury charge card and concierge platform Atlas has added new benefits to its card program. The enhanced perks allow cardholders to access upgrades as well as early check-in and late check-out privileges at luxury hotels. Atlas customers can also now earn $6,000 in travel and lifestyle credits per year and milestone rewards of up to $8,000.

The company is also expanding its concierge support, which Atlas calls “the cornerstone of the member experience” in a press release announcing the updates. The human-powered service provides members with personalized support through the company’s app or via text message.

Not just anyone can apply for Atlas, but consumers may request an invitation. The company decides which prospective members it will invite to apply. According to Atlas’s website, membership carries an annual fee of $3,000.

Atlas provides some insight into its members’ financial habits in its press release. The company said that average member spend has grown 70% year over year to reach almost $500,000 per year.

Additional enhancements may be in store for the Atlas card in the future. Patrick Mrozowski, CEO and Co-Founder of Atlas, told us that “the more we know about our members, the better we can shape the experience around what they actually care about.”