The CFPB Ruled on Credit Card Late Fees. Here’s What You Need To Know

Paying off your credit card statement on time and in full is an easy way to avoid fees, interest, and a host of other problems. Among those negative impacts are late fees — the penalty card issuers can levy if they don't receive your minimum monthly payment on time. In a ruling handed down by the Consumer Financial Protection Bureau (CFPB), there will be some changes to how credit card late fees work. Here's what you need to know.