The Trump administration is looking to overturn a Biden-era rule limiting major banks’ ability to penalize customers with overdraft fees, a reversal that has major banking associations salivating at the mouth.
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Well, the article mentions increasing bank fees. It's up to the credit union to change fees, or if they want to increase fees, but they don't normally follow big banks operating procefures, as they are supported by the community.
Might be time to do some research - maybe smaller, local/regional banks will not increase as much as the big greedy banks, or maybe CU's also will not. IDK but it can't hurt to check around, even now before anything changes.
Studies indicate that Black and Hispanic households tend to experience overdraft fees more frequently than White households. People with lower incomes are significantly more likely to use overdraft services.
Cant have indentured servants unless they are desperate.
Do none of these fascists understand that they are driving towards an 18th C. style revolt against the oligarchs & kleptocrats serving the .1% rather than the populous? Marie Antoinette may have said "Qu'ils mangent de la brioche", but people are having trouble simply affording eggs today. SMDH.
I know that the Trump administration doesn't care, but adding on overdraft fees to an already overdrawn bank account does not make any sense. Bankers call it punishment, but all it does is bankrupt the creditor and enrich the banker.
I thought Trump was going to save us money and create jobs? So far all we have are more people that are now unemployed and I don't see any savings if any kind. Oh, and did I mention we don't know how to fly and land planes safely anymore?
🤔 What will the Orange Jesus say and who will he blame when unemployment numbers increase, starting with the February report. He certainly will not be able to blame Biden.
Love to see the MAGAs rationalize and defend this as they continue doing with every other thing this admin is doing to directly hurt them. I won't ever suffer an overdraft. The MAGAs might well. I still think the Biden-era rule is the right one.
Banks? Omg, read the room. Do you not see what is happening? We the peasants are protesting and boycotting bullshit everywhere, do you want to be next on the boycott agenda? Because that’s how you move up the ranks. FAFO
Maybe a run on the banks and cashing in of 401ks is in order. They want to fuck with our money. Let’s fuck with theirs. The #IRS has been broken by the Muskrat Crooks so let them eat cake. #defundbanks #defundVanguard #defundGovernment
Cashing out your entire 401K at once is a super bad idea. Most people have their 401K in a tax-deferred plan, meaning the year you cash it all out, you will owe a huge tax bill to the IRS.
Moreover 401K administrators don't do the same punitive fees banks used to do on the daily
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https://prospect.org/economy/2025-02-17-banks-approve-of-republicans-increasing-bank-fees/
Cant have indentured servants unless they are desperate.
Republicans found the five-buck cap,
They’ll toss it for a banker’s clap.
The smallest debt, the poorest folk,
Are squeezed until they’re fully broke.
Moreover 401K administrators don't do the same punitive fees banks used to do on the daily