Politics

10179 readers

495 users here now

In-depth political discussion from around the world; if it's a political happening, you can post it here.

Guidelines for submissions:

Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
Do not post ragebait or shock stories. These will be removed.
Do not post tabloid or blogspam stories. These will be removed.
Social media should be a source of last resort.

These guidelines will be enforced on a know-it-when-I-see-it basis.

Subcommunities on Beehaw:

Socialism

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

alyaza@beehaw.org

TheRtRevKaiser@beehaw.org

circularfish@beehaw.org

knokelmaat@beehaw.org

remington@beehaw.org

104

Joe Biden Plans To Slash Bank Overdraft Fees To As Little As $3 (www.huffpost.com)

submitted 9 months ago by Five@slrpnk.net to c/politics@beehaw.org

27 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] northendtrooper@lemmy.ca 18 points 9 months ago (5 children)

Should be expanded to identify any and all predatory fees and burn them at the stake. Feels like the FTC or Bureau of Consumer Protection should take this up as their top priority.

[–] lolcatnip@reddthat.com 6 points 9 months ago

You can't just tell banks not to abuse their customers! That's crazy talk!

[–] zeluko@kbin.social 6 points 9 months ago

Well the USA is known to only tackle problems as they arise instead of before they could do damage.
Creates a freedom for companies to exploit and consumers often cant or wont sue them.

[–] Telorand@reddthat.com 5 points 9 months ago (1 children)

True, but before we go making a wishlist, let's remember that it's not even a possibility if Trump wins in November.

If anyone likes these systemic changes, mundane as they may be, remember that at the voting booth.

[–] t3rmit3@beehaw.org 2 points 9 months ago* (last edited 9 months ago) (1 children)

Just like all the unfulfilled AND unattempted promises from before the last election, it's always just another election away!

[–] Radiant_sir_radiant@beehaw.org 1 points 9 months ago

Almost makes populist Argentine president Javier Milei's "pack 300 of your ideas into a mega-decree that effectively becomes law with immediate effect until/unless parliament gets around to repealing parts of it with a 2/3 majority" strategy look like the more sensible approach.

[–] BraveSirZaphod@kbin.social 5 points 9 months ago (2 children)

Gonna take it you didn't read the article, because this literally is the Consumer Financial Protection Bureau:

Under the proposal, banks could continue to charge fees when a customer’s account falls below zero, but either at a price in line with the bank’s actual costs to administer the overdraft or at an established benchmark created by the 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.

[–] miracleorange@beehaw.org 4 points 9 months ago

I think they were saying the CFPB should take up stopping all predatory fees as their top priority.

[–] BobGnarley@lemm.ee 1 points 9 months ago

Lol theyre gonna make it $14 and cut it just under half. It helps I guess but Its funny how theyre like $3 (or $14)

[–] pearsaltchocolatebar@discuss.online 3 points 9 months ago

There's a lot of shit the FTC has been slipping on.