Judge halts rule limiting credit card late fees

(CNN)– A new rule limiting excessive credit card late fees that was set to take effect on Tuesday has been put on hold.

A federal judge on Friday temporarily blocked the U.S. government’s attempt to ban credit card late fees of more than $8 a month.

U.S. District Judge Mark T. Pittman sided with bank lobbyists who challenged the legality of the cap in a lawsuit, saying the policy is unconstitutional.

The preliminary injunction will allow the lobbyists legal battle to play out in court.