Late Payment

A payment received after the specified due date. In most cases, a payment made after any grace period triggers a late charge.

Source: Federal Reserve Board

Last reviewed October 2024

Today on Verdict

Oral Argument Last Week in the Birthright Citizenship Case Suggests that Class Actions May be Preferable to “Universal” Injunctions for the Government, the Court, and Even the Plaintiffs

UC Davis Law professor Vikram David Amar and Illinois Law professor Jason Mazzone analyze last week’s Supreme Court oral arguments on President Trump’s birthright citizenship executive order, focusing not just on the order’s constitutionality but also on the procedural question of whether “universal” injunctions or nationwide class actions are the better tool for challenging federal policies.