The Senate GOP is about to start voting to make sure banks can charge higher overdraft fees.

[CaughtInThe]

Good job MAGAs. You all will get to pay higher fees of all types. As will your kids.

 

[Phys251]

Good job MAGAs. You all will get to pay higher fees of all types. As will your kids.

Nobody benefits from this except the rich. Stupid Repubs...

 

[CaughtInThe]

Nobody benefits from this except the rich. Stupid Repubs...

Correct

 

[Allan]

Good job MAGAs. You all will get to pay higher fees of all types. As will your kids.

I wonder how many Senators own bank stocks and whether they will recuse themselves.

 

[Cosmo]

Good job MAGAs. You all will get to pay higher fees of all types. As will your kids.

Or just don't overdraw your account (who the hell does that anyway?). Whom is Pete trying to appeal to anyway? US public education victims who can't do basic math after 12 years of compulsory, government-funded education?

 

[Cosmo]

Nobody benefits from this except the rich. Stupid Repubs...

You don't need to be rich to own bank stocks. You don't need to be rich to do math at a rudimentary level to avoid overdrawing your account.

 

[j brown's body]

Or just don't overdraw your account (who the hell does that anyway?). Whom is Pete trying to appeal to anyway? US public education victims who can't do basic math after 12 years of compulsory, government-funded education?

Won't someone think of the banks?!

 

[Cosmo]

Won't someone think of the banks?!

I wasn't.

I just don't see what the big thread-worthy deal is.

 

[Minerva]

Good job MAGAs. You all will get to pay higher fees of all types. As will your kids.

Bill Number?

 

[CaughtInThe]

Bill Number?

https://www.congress.gov/bill/119th-congress/senate-joint-resolution/18

 

[CaughtInThe]

You don't need to be rich to own bank stocks. You don't need to be rich to do math at a rudimentary level to avoid overdrawing your account.
View attachment 67562421

"Overdraft fees began as a courtesy rendered by bankers to clients who naturally did not want their checks returned (bounced) because of insufficient funds in their accounts. Bankers might charge a small fee, or no fee at all, provided the client promptly restored adequate funds into the account. Because of the benign nature of this ad hoc practice, regulators did not attempt to prescribe rules under the Truth in Lending Act that would govern the level of those fees. In the 1990s, however, with payments moving from paper checks to digital transactions, including credit and debt cards, bankers began charging routinely and at higher rates for overdrafts. Bankers turned an occasional courtesy into a routine junk fee machine. Today, total fees nationwide surpass $30 billion because many banks charge $35 for each overdraft, regardless of the size of the overdraft. In fact, the $35 fees applies on average to a $26 overdraft."

Further, some banks reorder the monthly charges to a debit card to maximize how many overdraft fees they can charge."

Senate: Vote NO on Bank Overdraft Fees - Public Citizen

March 25, 2025 Honorable Senator United States Senate Washington, D.C. 20510 Please vote NO on S.J. Res. 18 A…

www.citizen.org

 

[dmpi]

Just make sure you checking account balance can cover the checks you write. if you bounce a check, someone will be hurt. It might as well be you to teach you not to do it again.

 

[Cosmo]

"Overdraft fees began as a courtesy rendered by bankers to clients who naturally did not want their checks returned (bounced) because of insufficient funds in their accounts. Bankers might charge a small fee, or no fee at all, provided the client promptly restored adequate funds into the account. Because of the benign nature of this ad hoc practice, regulators did not attempt to prescribe rules under the Truth in Lending Act that would govern the level of those fees. In the 1990s, however, with payments moving from paper checks to digital transactions, including credit and debt cards, bankers began charging routinely and at higher rates for overdrafts. Bankers turned an occasional courtesy into a routine junk fee machine. Today, total fees nationwide surpass $30 billion because many banks charge $35 for each overdraft, regardless of the size of the overdraft. In fact, the $35 fees applies on average to a $26 overdraft."

Further, some banks reorder the monthly charges to a debit card to maximize how many overdraft fees they can charge."

Senate: Vote NO on Bank Overdraft Fees - Public Citizen

March 25, 2025 Honorable Senator United States Senate Washington, D.C. 20510 Please vote NO on S.J. Res. 18 A…

www.citizen.org

What does this have to do with what I wrote?

Also there are already accounts with no overdraft fees.

Capital One 360 Checking Overdraft Options | Capital One

Break free from overdraft fees on your checking account.

www.capitalone.com

So it looks like the free market already cracked this case.

 

[Questerr]

A reminder that conservatives really hate poor people.

 

[Cosmo]

A reminder that conservatives really hate poor people.

Overdrafts have to do with failure to manage your bank account, not with poverty.

 

[Loulit01]

Rich people don't run out of money and overdraw their accounts. This is another tax on the poor.

 

[ConWolf]

While I think the government has no business regulating overdraft fees to start, I do have to wonder just where they find time to deal with this when there is so much else to do. Why don't they start charging overdraft fees (tax the bank) so they can start paying down our national debt ?

 

[CaughtInThe]

Overdrafts have to do with failure to manage your bank account, not with poverty.

What's funny is this will take money away from tons of a Maga families.

 

[Loulit01]

Overdrafts have to do with failure to manage your bank account, not with poverty.

Yeah, okay.

 

[bongsaway]

I wasn't.

I just don't see what the big thread-worthy deal is.

The big deal is the GOP who says they are out for the common person, don't act like it. Overdraft fees are already outrageous and the GOP wants to give banks the opportunity to charge even more. In case you've forgotten, the banks were one of the major causes of the 2008 crash.

Then again being honest, no trump supporter sees anything wrong with the trump administration no matter what they do.

 

[CaughtInThe]

The big deal is the GOP who says they are out for the common person, don't act like it. Overdraft fees are already outrageous and the GOP wants to give banks the opportunity to charge even more. In case you've forgotten, the banks were one of the major causes of the 2008 crash.

Then again being honest, no trump supporter sees anything wrong with the trump administration no matter what they do.

EVEN when it takes $$$$ out of the pockets of MAGA.

 

[bongsaway]

EVEN when it takes $$$$ out of the pockets of MAGA.

I like that they will deny this trump agenda is even affecting them negatively, as if only non trump supporters are paying the higher prices.

 

[CaughtInThe]

I like that they will deny this trump agenda is even affecting them negatively, as if only non trump supporters are paying the higher prices.

Which is pretty stupid.

 

[Ikari]

Good job MAGAs. You all will get to pay higher fees of all types. As will your kids.

Oh, more handouts to Big Banking, good, good. Surely we wouldn't want to protect consumers.

 

[Questerr]

Overdrafts have to do with failure to manage your bank account, not with poverty.

Yeah, they definitely effect rich people more than poor people, right?