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#OverdraftFees

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megan<p>🚨 Republicans just voted to keep screwing over working Americans — all to protect big bank profits.</p><p>The Biden-era CFPB passed a rule capping predatory overdraft fees at $5. That saved regular people $5 billion a year. </p><p>You know who hated that? Wall Street.</p><p>So guess what the GOP made a priority? Killing that rule.</p><p>Every single Democrat voted to protect consumers. </p><p>Every single Republican voted to let banks keep robbing people who are struggling the most.</p><p>They chose billionaires over the 99% — again.</p><p><a href="https://hachyderm.io/tags/BankrolledByBanks" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>BankrolledByBanks</span></a> <a href="https://hachyderm.io/tags/GOPCorruption" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>GOPCorruption</span></a> <a href="https://hachyderm.io/tags/OverdraftFees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>OverdraftFees</span></a> <a href="https://hachyderm.io/tags/CFPB" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>CFPB</span></a> <a href="https://hachyderm.io/tags/ClassWar" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ClassWar</span></a></p>
Jorro<p><a href="https://universeodon.com/tags/OverdraftFees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>OverdraftFees</span></a> <a href="https://universeodon.com/tags/banking" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>banking</span></a> <a href="https://universeodon.com/tags/republicans" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>republicans</span></a> <a href="https://universeodon.com/tags/economy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>economy</span></a> </p><p>Thank you republicans for screwing people;</p><p>“The Senate voted 52-48 on Thursday in favor of a resolution from Senate Banking Committee Chairman Tim Scott (R-S.C.) to repeal the rule. Scott had the gall to say that removing the CFPB’s cap on overdraft fees would be “good for consumers” while arguing for the resolution on the Senate floor.</p><p>Sen. Josh Hawley (R-Mo.), the only Republican to join Democrats in opposing the resolution, disagrees. “Why would we help the big banks at the expense of working people?” Hawley asked reporters following the vote, per Semafor. “I just don’t understand it.”</p><p><a href="https://www.rollingstone.com/politics/politics-news/republicans-vote-repeal-cap-bank-overdraft-fees-1235304880/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">rollingstone.com/politics/poli</span><span class="invisible">tics-news/republicans-vote-repeal-cap-bank-overdraft-fees-1235304880/</span></a></p>
LilMikeSF<p><a href="https://c.im/tags/Drumpf" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Drumpf</span></a> admin coddles <a href="https://c.im/tags/BigBanks" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>BigBanks</span></a> by advocating for increases on regulated <a href="https://c.im/tags/OverdraftFees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>OverdraftFees</span></a> on <a href="https://c.im/tags/Budget" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Budget</span></a> challenged <a href="https://c.im/tags/Bank" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Bank</span></a> customer$</p><p><a href="https://www.rollingstone.com/politics/politics-news/trump-admininstration-banks-raise-overdraft-fees-1235271368/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">rollingstone.com/politics/poli</span><span class="invisible">tics-news/trump-admininstration-banks-raise-overdraft-fees-1235271368/</span></a></p>
Steve Dustcircle 🌹<p>Is <a href="https://masto.ai/tags/WellsFargo" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>WellsFargo</span></a> Charging Unfair <a href="https://masto.ai/tags/Overdraft" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Overdraft</span></a> <a href="https://masto.ai/tags/Fees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Fees</span></a>?</p><p><a href="https://www.classaction.org/unfair-overdraft-protection-fees" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">classaction.org/unfair-overdra</span><span class="invisible">ft-protection-fees</span></a></p><p>What’s Going On?<br>Attorneys working with ClassAction.org have reason to believe that charging multiple <a href="https://masto.ai/tags/overdraftfees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>overdraftfees</span></a> on <a href="https://masto.ai/tags/checks" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>checks</span></a> and <a href="https://masto.ai/tags/autopayments" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>autopayments</span></a> that are declined again after being reprocessed for payment may be <a href="https://masto.ai/tags/illegal" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>illegal</span></a>. They’re now gathering <span class="h-card" translate="no"><a href="https://bird.froth.zone/users/wellsfargo" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@<span>wellsfargo</span></a></span> <a href="https://masto.ai/tags/customers" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>customers</span></a> who’ve had this happen to take <a href="https://masto.ai/tags/legalaction" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>legalaction</span></a>.</p>
Tanquist<p><span class="h-card" translate="no"><a href="https://octodon.social/@jalefkowit" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@<span>jalefkowit</span></a></span><br>A dozen or so years ago a small <a href="https://masto.ai/tags/overdraft" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>overdraft</span></a> on my <a href="https://masto.ai/tags/WellsFargo" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>WellsFargo</span></a> account triggered a cascade of <a href="https://masto.ai/tags/OverdraftFees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>OverdraftFees</span></a> totaling over $600 - all for small transactions I thought were covered... except for that one oversight. I begged for mercy and they told me to take a hike. I was so mad I took them to small claims court. They didn't even show up for the hearing, so I got all of my money back plus the court filing fee.<br><a href="https://masto.ai/tags/justice" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>justice</span></a></p>
Cory Doctorow<p>Hey look at this</p><p>* It’s Time To Revisit <a href="https://mamot.fr/tags/PriceControls" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PriceControls</span></a>, Beginning with Limits on <a href="https://mamot.fr/tags/OverdraftFees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>OverdraftFees</span></a> <a href="https://www.thesling.org/its-time-to-revisit-price-controls-beginning-with-limits-on-overdraft-fees/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">thesling.org/its-time-to-revis</span><span class="invisible">it-price-controls-beginning-with-limits-on-overdraft-fees/</span></a></p><p>* Tools for Thinking About <a href="https://mamot.fr/tags/Censorship" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Censorship</span></a> <a href="https://www.exurbe.com/tools-for-thinking-about-censorship/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">exurbe.com/tools-for-thinking-</span><span class="invisible">about-censorship/</span></a></p><p>* <a href="https://mamot.fr/tags/AIWatermarking" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>AIWatermarking</span></a> Won't Curb <a href="https://mamot.fr/tags/Disinformation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Disinformation</span></a> <a href="https://www.eff.org/deeplinks/2024/01/ai-watermarking-wont-curb-disinformation" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">eff.org/deeplinks/2024/01/ai-w</span><span class="invisible">atermarking-wont-curb-disinformation</span></a></p><p>4/</p>
Church of Jeff<p><a href="https://youtu.be/sLBrUSUMOS8" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="">youtu.be/sLBrUSUMOS8</span><span class="invisible"></span></a><br>Let's talk about Biden, banking, and overdrafts....</p><p><a href="https://mastodon.world/tags/NoBillionaires" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>NoBillionaires</span></a> <a href="https://mastodon.world/tags/overdraftfees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>overdraftfees</span></a></p>
input.translation<p>"On Wednesday the Consumer <a href="https://ieji.de/tags/Financial" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Financial</span></a> Protection Bureau announced a proposed rule for bank overdraft <a href="https://ieji.de/tags/fees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>fees</span></a> at <a href="https://ieji.de/tags/banks" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>banks</span></a> that have more than $10 bil. in assets. </p><p>While the average overdraft is $26.61, some banks charge as much as $39 per <a href="https://ieji.de/tags/overdraft" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>overdraft</span></a>. The <a href="https://ieji.de/tags/CFPB" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>CFPB</span></a> estimates that in the past 20 years, banks have collected more than $280 billion in <a href="https://ieji.de/tags/overdraftfees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>overdraftfees</span></a>. (One bank’s chief executive officer named his boat 'Overdraft.')"</p><p><a href="https://ieji.de/tags/banking" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>banking</span></a> <a href="https://ieji.de/tags/regulation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>regulation</span></a> <a href="https://ieji.de/tags/fees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>fees</span></a> <a href="https://ieji.de/tags/biden" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>biden</span></a> <a href="https://ieji.de/tags/chevrondoctrine" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>chevrondoctrine</span></a></p><p><a href="https://heathercoxrichardson.substack.com/p/january-19-2024" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">heathercoxrichardson.substack.</span><span class="invisible">com/p/january-19-2024</span></a></p>
Steve Dustcircle 🌹<p><a href="https://masto.ai/tags/Walmart" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Walmart</span></a> <a href="https://masto.ai/tags/scams" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>scams</span></a>, expensive <a href="https://masto.ai/tags/recycling" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>recycling</span></a>, and <a href="https://masto.ai/tags/overdraftfees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>overdraftfees</span></a></p><p><a href="https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5ucHIub3JnLzUxMDMyNS9wb2RjYXN0LnhtbA/episode/YTI0ODYzMjYtOTRkYS00OWViLThhMjctYTcwNmU2Yzg2OTBk?sa=X&amp;ved=0CLoCEM-BB2oXChMIyKW9rP7rgwMVAAAAAB0AAAAAEAE" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">podcasts.google.com/feed/aHR0c</span><span class="invisible">HM6Ly9mZWVkcy5ucHIub3JnLzUxMDMyNS9wb2RjYXN0LnhtbA/episode/YTI0ODYzMjYtOTRkYS00OWViLThhMjctYTcwNmU2Yzg2OTBk?sa=X&amp;ved=0CLoCEM-BB2oXChMIyKW9rP7rgwMVAAAAAB0AAAAAEAE</span></a></p>
ScottMGS<p>Ugh. Gotta pay attention to everything always. Who's got time for that! This is outrageous!</p><p>No, I shouldn't be surprised - after all, money is involved - but I am. Some are even spinning their fees as services to help economically disadvantaged people make it to the end of the month.</p><p>Ugh, I say. Ugh!</p><p><a href="https://www.kpbs.org/news/quality-of-life/2023/11/29/san-diego-credit-unions-charging-millions-overdraft-fees" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">kpbs.org/news/quality-of-life/</span><span class="invisible">2023/11/29/san-diego-credit-unions-charging-millions-overdraft-fees</span></a></p><p><a href="https://justme.masto.host/tags/creditUnion" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>creditUnion</span></a> <a href="https://justme.masto.host/tags/overdraftFees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>overdraftFees</span></a></p>
Magpieblog<p>' [The] picture among California’s 114 state-chartered credit unions is alarming. Overall, they took in $252 million in overdraft and non-sufficient funds fees (NSF) in 2022. Thirty credit unions earned half or more of their net profit from overdraft and NSF fees alone. Any financial institution ... that relies on overdraft fees for a majority of their earnings is operating in an unsafe and unsound manner. '</p><p><a href="https://mas.to/tags/CreditUnions" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>CreditUnions</span></a> <a href="https://mas.to/tags/OverdraftFees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>OverdraftFees</span></a> <a href="https://mas.to/tags/PredatoryCapitalism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PredatoryCapitalism</span></a> <a href="https://mas.to/tags/California" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>California</span></a> </p><p><a href="https://www.politico.com/news/magazine/2023/10/05/credit-unions-overdraft-fees-00119904" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">politico.com/news/magazine/202</span><span class="invisible">3/10/05/credit-unions-overdraft-fees-00119904</span></a></p>
Kevin Karhan :verified:<p><span class="h-card"><a href="https://mstdn.celestia.social/@elaine" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@<span>elaine</span></a></span> <a href="https://mstdn.social/tags/OverdraftFees" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>OverdraftFees</span></a> are just a legalized <a href="https://mstdn.social/tags/PoorTax" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PoorTax</span></a> and <a href="https://mstdn.social/tags/racketeering" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>racketeering</span></a></p>
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