WASHINGTON (AP) — President Joe Biden is highlighting a proposal to cap all credit card late fees. It’s the latest effort in the White House push to end what it has called junk fees and a move that regulators say will save Americans up to $10 billion a year. His administration announced the rule Tuesday. Biden says current late fees are generating five times more money than what it costs credit card companies to collect late payments, adding that “they’re padding their profit margins and charging hardworking Americans more.” The Consumer Financial Protection Bureau’s new regulations would set a ceiling of $8 for most credit card late fees or require banks to show why they should charge more than $8 for such a fee.