What you need to know during National Consumer Protection week

PHILADELPHIA (WPVI) -- It's National Consumer Protection Week, so we are highlighting important information you need to know.

If you've ever been slapped with a late fee by your card company, you know it can be hefty and now the feds are saying - no more. A new cap on how much companies charge is expected to save consumers $10 billion dollars every year.

It was passed by the Consumer Financial Protection Bureau. It puts an $8 cap on late fees charged to credit card customers.

Currently credit card late fees range between about $20-$40. The CFPB says more than 45 million people are charged late fees on credit cards each year.

Those folks will now save an average $220 per year, not only saving consumers' money but also helping them pay down their debt. The CFPB says it observed that excessive late fees could also affect a card holder's ability to make future timely payments on their accounts.

Because it's National Consumer Protection Week so we talked to the Director of Consumer Protection for the state of Pennsylvania.

"We want consumers to know that they can reach out to us for any assistance they may need," said Sarah Frasch, Pa. Deputy Attorney General.

Frasch says its Bureau of Consumer Protection saved or recovered more than $24.5 million dollars for Pennsylvania consumers last year.

And by filing a complaint, you're providing much needed information on whom or what to investigate so you're not only helping yourself, you're also helping others.

The most common consumer complaint the AG's office gets involves the roadworthiness of used vehicles.

"I think the most important thing is to make sure you test drive the car, right," she said. "So drive the car, see how it feels before you purchase it. You can always take it to your own mechanic as well to inspect it before you buy it."

Even if a car is sold without a warranty, it must still be roadworthy unless the seller has very specifically disclosed to the consumer that it is not.

Contact the Pennsylvania Attorney General online at AttorneyGeneral.gov or calling 1-800-441-2555.