Should be expanded to identify any and all predatory fees and burn them at the stake. Feels like the FTC or Bureau of Consumer Protection should take this up as their top priority.
Well the USA is known to only tackle problems as they arise instead of before they could do damage.
Creates a freedom for companies to exploit and consumers often cant or wont sue them.
Gonna take it you didn’t read the article, because this literally is the Consumer Financial Protection Bureau:
Under the proposal, banks could continue to charge fees when a customer’s account falls below zero, but either at a price in line with the bank’s actual costs to administer the overdraft or at an established benchmark created by the new rule.
The Consumer Financial Protection Bureau (CFPB) proposed potential fees of $3, $6, $7 or $14 and is seeking feedback from banks and the public on what would be appropriate. Current overdraft fees often push $30 or more, taking a significant bite out of low-income accounts.
Almost makes populist Argentine president Javier Milei’s “pack 300 of your ideas into a mega-decree that effectively becomes law with immediate effect until/unless parliament gets around to repealing parts of it with a 2/3 majority” strategy look like the more sensible approach.
Should be expanded to identify any and all predatory fees and burn them at the stake. Feels like the FTC or Bureau of Consumer Protection should take this up as their top priority.
You can’t just tell banks not to abuse their customers! That’s crazy talk!
Well the USA is known to only tackle problems as they arise instead of before they could do damage.
Creates a freedom for companies to exploit and consumers often cant or wont sue them.
Gonna take it you didn’t read the article, because this literally is the Consumer Financial Protection Bureau:
I think they were saying the CFPB should take up stopping all predatory fees as their top priority.
Lol theyre gonna make it $14 and cut it just under half. It helps I guess but Its funny how theyre like $3 (or $14)
True, but before we go making a wishlist, let’s remember that it’s not even a possibility if Trump wins in November.
If anyone likes these systemic changes, mundane as they may be, remember that at the voting booth.
Just like all the unfulfilled AND unattempted promises from before the last election, it’s always just another election away!
Almost makes populist Argentine president Javier Milei’s “pack 300 of your ideas into a mega-decree that effectively becomes law with immediate effect until/unless parliament gets around to repealing parts of it with a 2/3 majority” strategy look like the more sensible approach.
There’s a lot of shit the FTC has been slipping on.