Lawmakers voted to invalidate a rule adopted last year by the Consumer Financial Protection Bureau. It now moves to the House.

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.

  • conditional_soup@lemm.ee
    5·
    4 days ago

    Recent actions taken by mainstream Dems:

    • Among the thirty fundraising texts a week I get, I got a text with the wrong name telling me that Medicaid was fried because we “begged democrats to save it” but just didn’t donate enough money :( I can just imagine Pelosi turning to face the other democrats, their faces turned up to her like a bunch of whipped orphans, and sadly telling them that Christmas is cancelled because the donors simply didn’t put enough quarters in her back.

    • Chuck Schumer had a perfect opportunity to take a stand and decided that being difficult with the fucking Nazis was just one line we can’t afford to cross just now. I guess Saturn’s in Pisces ATM, and, wouldn’t you know, the perfect conditions for taking a meaningful stand against the republicans have somehow failed to manifest for twenty years and counting. But don’t worry, we might have pushed the quit button for ourselves AGAIN, but if you donate a little bit more money, we’ll definitely get them next time.

    • At Trump’s shitty speech, they all sat and waved their stupid signs while the only one of them with a fucking spine got walked out by security. Later, Democrats wearing #RESIST shirts politely walked themselves out of the building during the speech. Then they censured the guy with the spine.

    I expect Nazi bullshit from the fucking Nazis. I expect the democrats to fucking show up and DO SOMETHING GOD DAMNIT.