Summary:
The Senate voted Thursday to strike down a rule capping most bank overdraft fees at $5, a measure adopted late last year by the Consumer Financial Protection Bureau that had been expected to save Americans billions of dollars per year.
Senator Josh Hawley, Republican of Missouri, was the lone Republican to oppose the resolution, which passed on a nearly party-line vote, 52-48. It will now move to the House, where Representative French Hill, the Arkansas Republican who leads the Financial Service Committee, introduced a parallel resolution last month.
The rule would have limited the fees banks and credit unions could charge when customers spend more than they have in their accounts, typically $35 per overdraft. The bureau estimated it would save American households $5 billion a year. It was immediately challenged in court by banking trade groups.
Personal opinon:
Call your bank and tell them to turn off overdraft protection now.
I watched a Jon Stewart interview with an interesting premise. The guy being interviewed made a point that Trump promises change immediately whereas Biden’s platform would have made the us and the world better over years, decades
You have a link? Or the name of the person interviewed?
Pretty sure it was Ezra Klein on the weekly show podcast with Jon Stewart. He went into detail about how even just distributing the funds for the broadband bill was just this Kafka-esque insane seven year process of infinite subcommittees and public review processes, and that was what Democrats wrote for themselves; it wasn’t made that way by Republicans to make it shitty, Dems happily blew their own feet off by making the bill’s workings as tortured and slow as possible.
Yes, that was it thanks
Certainly a big criticism of democrats has been they get nothing done but if you look at the legislation they really did get some far reaching improvements codified …… but then it takes years to implement so no one sees the results and the next president can cancel programs before anything is done.
One of the programs I was really frustrated by was building out EV chargers. Republicans had started complaining about nothing being done and the explanation was partly that it required states to figure out how to use it, but this could have been transformative for the EV transition. Now very little was done, the current president cancelled the program and started reneging on its commitments
Last summer I went on a 1,200 mile road trip in an EV and had no problems. But that was in the NorthEast where a lot of charging infrastructure has been built out. We really need to jump start this in a lot of the US where they don’t have the population for it to be immediately profitable. People need to think of it like highways, we don’t just build highways between cities where there’s enough population to make it worthwhile: we know that we’re all stronger with easier travel everywhere. Similarly, you should be able to refuel your vehicle everywhere you can travel with it