Biden administration announces $8 cap on credit card late fees

The video discusses the White House's initiative to cap junk fees, particularly focusing on credit card late fees. Banks generate significant revenue from these fees, but capping them at $8 could save consumers up to $10 billion annually. While this move could benefit consumers, critics warn of potential downsides like higher interest rates. The video also offers advice on avoiding late fees and explores the political implications for the Biden administration.

What advice is given to avoid late fees?

What percentage of Americans believe President Biden is a strong economic leader?