Joe Biden Moves To Slash Bank Overdraft Fees With New Rule

The Consumer Financial Protection Bureau (CFPB) proposed potential fees of $3, $6, $7 or $14 and is seeking feedback from banks and the public on what would be appropriate. Current overdraft fees often push $30 or more, taking a significant bite out of low-income accounts.

The agency estimates the rule would save consumers a total of $3.5 billion or more per year, or an average of $150 to households that get hit with overdraft fees.

The Biden administration has been quietly at work eliminating or reducing a lot of fees that do nothing but act as caltrops for the lower class. Overdraft price-gouging is only the latest sweep.

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Somehow this is bad!

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That’s not all biden is doing with the banks.

Seems ol joe is going after his perceived political enemies (read fellow American citizens).

Searching for any transaction that mentions MAGA and even going so far as to request names of those subversives who purchased (gasp) bibles.

bidens america.

https://www.newsmax.com/newsfront/jim-jordan-fbi-christopher-wray/2024/01/17/id/1149988/

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They squeal for pennies. :rofl:

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I’m a fan

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“i’ll pay your parking tickets too!!”

— true leader

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just what we need, lower the fees for deadbeats who abuse their banks and defraud sellers by writing bad checks. Banks make less in fees, they make up for it with interest rates.

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did you notice how huffblow calls it “slash” like it’s such a huge national burden for people? they dont know any better.

“we had to step in”

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Many banks now offer overdraft protection for checking accounts. My bank does, if we go negative, we have 24hrs to deposit to cover and there are no fees.

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I have little sympathy. I am 75 and have never had an overdraft. A thing with Democrats maybe?

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This is so very telling.

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Yeah it tells you that @DougBH is a very responsible person.

We should all strive to be like that.

You got a problem?

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That was worthy of repeating.

So I quoted it.

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Isn’t it though?

I wish I could say what Doug said…

Sadly the simple validity of his words…as is so often the case…

Will be wasted on Hannity board libs.

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democrats cater to the irresponsible

this is along same lines of arbitrarily increases in min wage, putting up illegals in hotels with gift cards, no id voting…. abortion……

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Absolutely !!!
I want to see him fix the border, get the hostages back …Ya know …piddly stuff like that on the front page of the News.

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Polititicians can’t give up their gravy train seats and their constituance can’t jump of Gov. momma’s lap.
Yep…that’s the Left for you.

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I wish he’d cracked down on Blockbuster’s late fees in the 90’s. I’d still have an account there and be one copy short of Police Academy: Mission Moscow.

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maybe he’ll “slash” all those fees

maybe the omnibus can extend to library late fees too