Opportunity Wisconsin billboard will highlight Steil-backed proposal that will keep late fees high as Wisconsinites use credit cards to pay for summer tailgates and more
Thursday, May 9, 2024
KENOSHA, Wis. – Today, a new mobile billboard from Opportunity Wisconsin will highlight Congressman Bryan Steil’s recent vote to keep credit card late fees high with stops in Racine, Kenosha, and near American Family Field as Brewers fans tailgate this afternoon. Under the Steil-backed proposal, working families could continue to be hit with high late fees after using credit cards for common purchases, including tailgate supplies.
Last month, Steil joined Republicans on the House Financial Services Committee in voting to approve H. J. Res. 122, which would repeal a rule from the Consumer Financial Protection Bureau capping credit card late fees at $8. The measure could soon face a vote in front of the entire House of Representatives, giving Steil an opportunity to reverse his position and vote in favor of working families instead of credit card companies and corporate special interests.
If implemented, the new cap on credit card fees is estimated to save 45 million Americans an average of $220 per year. The cap is opposed by the nation’s largest credit card companies and industry groups, who have contributed more than $241,000 to Steil during his career, in addition to thousands of dollars in contributions this year alone.
“As Wisconsinites enjoy summer, they shouldn’t have to worry about paying even more in fees,” said Opportunity Wisconsin Program Director Meghan Roh. “But if Congressman Steil votes again to keep credit card late fees high, working families risk paying even more after using their credit cards for everything from gas and groceries, to supplies for the perfect tailgate. Congressman Steil needs to stand up to the big banks and credit card companies and fight for working families who will be forced to pay more if this resolution take effect."
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