The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by the White House, the latest move by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck.

The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by the White House, the latest effort by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck.

The change could potentially eliminate billions of dollars in fee revenue for the nation’s biggest banks, which were gearing up for a battle even before Wednesday’s announcement. Exactly how much revenue depends on which version of the new regulation is adopted.

Banks charge a customer an overdraft fee if their bank account balance falls below zero. Overdraft started as a courtesy offered to some customers when paper checks used to take days to clear, but proliferated thanks to the growing popularity of debit cards.

  • aew360@lemm.ee
    713·
    10 months ago

    You can keep your tinfoil hat on but the truth is that Democrats are on average a whole fuck of a lot better. Lieberman was never the type of Democrat you’re thinking of. He’s now trying to get Manchin to run under the No Labels pack so Trump can be king and we can truly see what climate change looks like if we do nothing at all to curb its effects.

    I’ll just be over here telling you all “told you so” when everything you criticize Biden of becomes 10x worse under a true monster like Trump

    • circuscritic
      102·
      10 months ago

      What you’re saying has nothing to do with what I’m saying.

      Yes, the Democrats are better then Trump. How does that invalidate what I said?

      You can vote for them, and that might make sense. Just do it with your eyes open, because believing in them for anything other then “not being Trump” is a fools errand.

        • circuscritic
          51·
          10 months ago

          Are you seriously saying that you’d rather have shit on your plate than three day old diarrhea covered with mold spots?

          Everyone knows the Shit-on-a-Plate party really seriously wants universal healthcare, if only their wasn’t that one outlier member who ruined it for everyone.

          The only thing I can’t figure out is how come there’s always an outlier or two that prevent the good policies from being enacted?

          It’s really weird, one gets voted out, but another one always takes their place…it’s a real mystery.