Economy Biden wants to limit overdraft fees

[AWilder]

This is a pretty big deal. I had a roommate that got hammered with overdraft fees every month. I was wondering why her bank was sending so many letters until i saw one opened in the trash. she must have paid $300 a month in fees, easily. I can't even remember the last time I had an overdraft, well over 20 years, but i remember it being around $30 for a few cents over my balance. I hope this helps people out.

Biden administration unveils proposed changes to big banks' overdraft fees

The Consumer Financial Protection Bureau announced a proposed rule to curb overdraft fees, which have exploded in recent decades.

www.cnbc.com

• The Consumer Financial Protection Bureau unveiled a highly anticipated rule proposal targeting big banks' overdraft fee practices.
• Since 2000, American consumers have paid an estimated $280 billion in bank overdraft fees, according to CFPB data.
• "Banks call it a service—I call it exploitation," said President Joe Biden.

 

[Cajun]

I like this proposal. There should be interest etc but some of these fees are ridiculous.

 

[Mr. Shickadance]

More for the people type of legislation for the Biden administration but I’m sure the other side will find a problem with it somehow

 

[Jack V Savage]

It's our God-given right to pay really high overdraft fees. This will be the end of the Republic!

 

[Rational Poster]

It's our God-given right to pay really high overdraft fees. This will be the end of the Republic!

Think about all the people who've already paid billions in overdraft fees, is it really fair to them?

 

[KOPPE]

the best man for the job

 

[Mr Holmes]

Good idea. I lived paycheck to paycheck for a while after college. It used to drive me nuts getting slapped with a $30 fee for buying a cup of coffee over my limit.

 

[sickc0d3r]

It's our God-given right to pay really high overdraft fees. This will be the end of the Republic!

Think about all the people who've already paid billions in overdraft fees, is it really fair to them?

They’ll just pass the cost on to the consumer. Get ready for $15 ATM fees.

 

[blackheart]

Queue the goof troop to come in and tell us how this objectively good thing is the end of western civilization.

Who wants to make guesses as to what their line of attack will be on this?

My money is on "this is gobbunism!!!"

 

[sickc0d3r]

Good idea. I lived paycheck to paycheck for a while after college. It used to drive me nuts getting slapped with a $30 fee for buying a cup of coffee over my limit.

For real. Decline the damned transaction if there’s isn’t enough money.

 

[RoastBeast]

For real. Decline the damned transaction if there’s isn’t enough money.

I'm actually more on board with this than anything. Make it idiot proof.

 

[D3thr0n3d K1ng]

Communist Brandon trying to stifle free enterprise!!!

 

[Super_Nintendo]

why do these bitches wait for election season to do this? why not year round?

 

[sickc0d3r]

I'm actually more on board with this than anything. Make it idiot proof.

Been a long time since I had an overdraft, I don’t know if you can opt out or what.
But, it seems like it is designed to bilk money from the irresponsible (which I reckon tend to be the people who can least afford it). I’d be ok with a 3 strikes and then charge maybe, or an overdraft limit.

 

[Cherry Brigand]

why do these bitches wait for election season to do this? why not year round?

You answered your own question

 

[kahiljabroni]

Election coming up.... quick let's think of ways we can buy votes from the dregs

 

[DiddlyDoodly]

why do these bitches wait for election season to do this? why not year round?

There are still many people out there wondering when their student debt is going to get paid off.

 

[sickc0d3r]

why do these bitches wait for election season to do this? why not year round?

Fair question. Fairly easy answer.

 

[DiddlyDoodly]

Serious question.

If Biden is doing such a great job and the country is as wonderful as everyone on the Left is claiming, then why are you even worried about Trump?

If you got a legitimate 81 million votes before in 2020, then it should be no problem for him to get 90 million this time.

Right?

 

[RoastBeast]

Been a long time since I had an overdraft, I don’t know if you can opt out or what.
But, it seems like it is designed to bilk money from the irresponsible (which I reckon tend to be the people who can least afford it). I’d be ok with a 3 strikes and then charge maybe, or an overdraft limit.

Agreed. Reminds me of this old Louis CK bit.