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I just love that dems literally can't help themselves but pre-compromise - and also ask for recognition and kudos before they actually do or accomplish anything. Imagine trying to claim you should get an A on a paper because you had an idea that was really good but didn't actually write it. Or when I'm at work, I can't imagine telling a parent that there sick kid will be better now because I imagined preparing their antibiotic even though I haven't spiked the bag or started an IV lol
Imagine trying to claim you should get an A on a paper because you had an idea that was really good but didn't actually write it. Or when I'm at work, I can't imagine telling a parent
Had an idea that was really good, and then not only didn't write the actual paper, but decided to think about writing a significantly worse version of the paper.
Also it's not even an original idea, some Prussian dude already wrote extensively about it in the 19th century.
If a democrat found a genie lamp, he'd negotiate himself down to one wish and then vote for something he thinks a republican would want.
Looks like someone didn't hear the news. I'll have you know a 4th of July cookout was $0.16 cheaper in 2021
Precompromise is a great explanation of this behavior. Thank you.
FDR: "I welcome their hatred."
FDR 2.0: "I promise to cut this fee by about 50% with plenta loopholes that render this promise utterly meaningless. Also - the would modal verb indicates you gotta vote first. So - vote!"
Ok so now banks with just charge two overdraft fees.
"Here's your overdraft fee and here's our newly instituted account management fee which happens to be the same amount."
The first one's the Over Fee. The second is the Draft Fee.
This is the thing that's surely gonna save your campaign Biden. Cutting the fees for people who have zero money by half instead of removing them. We're still egregiously punishing you for being poor, but we're punishing you LESS, and that's a win! Great job Biden!
"Wow now instead of not having any money I still don't have any money but a bunch of rich snobby douchebags expect me to thank them for it, I'll be sure to repay the favor"
overdraft = overdraft *.5
such a complicated bill, sorry it took us until the part of our term where the republicans have a majority to write this one.
Neoliberal law writing actually does take a long time because they have to workshop it to be as small a change as possible and the implementation has to be complex enough that corpos can find a loophole.
They're aiming for the floor and they aren't even gonna hit that
According to Douglas Adam's that's how you fly.
They're aiming for the floor and somehow hitting a harder floor covered in piss nobody even saw there.
A blue check lib was tweeting about this and blocked me for saying it wasn't enough... Apparently I have Biden Derangement Syndrome. Fuck.
When you're thinking of being critical of Biden, think twice folks. Sometimes there are consequences.
I love how Blue MAGA even has the same terminology as Red MAGA. They're the exact same hog raised in a slightly different protestant church.
The lack of self awareness to try to coopt Trump derangement syndrome which was often just a way to dismiss legit criticisms of him (when used by chuds) is stunning.
Libs would make a legitimate criticism of him and chuds would say they had TDS, and these morons decided that was a wining strategy.
The whole "Derangement Syndrome" thing started on the right with "Bush Derangement Syndrome"
Huh I had not known this one, yet again conservatives are unoriginal and are just recycling old material.
The worm ouroborous turns faster and faster these days
Don't let the perfect be... the you know the thing.
#BDS #BidenDerangementSyndrome #BoycottDivestSanction #GenocideJoe #GenocideIsDeranged
Can't wait for the banks to ignore this, then get charged a fine that's less than the amount they stole from not changing their overdraft fees to begin with.
Article with more info here
Under the proposal, a bank would be allowed to charge consumers its actual cost to cover an overdrawn account, or conform to a set limit determined by the CFPB, effectively eliminating the $35 fees typically charged for an overdraft, according to the agency. Banks take in about $9 billion a year from the fees, according to the CFPB.
Presumably "actual cost" means the literal mechanical requirements for the system e.g. the electricity and server power to detect the overdraft and send the credit. I can't imagine that being very much at all, in the neighborhood of a couple cents. Conveniently, I can't find any data on this—any search involving "overdraft" and "cost" gives me SEO vomit about what the banks charge, not what it costs them.
Rather than provide the CFPB with a breakdown of the costs, banks could instead opt to adopt a benchmark fee, with regulators suggesting $3, $6, $7 and $14 as possibilities. The agency plans to solicit industry and public comments by April 1, with a regulation expected to take effect in October 2025.
So Brandon's okay with exploitation (charging hundreds times more than the actual of cost the service) as long as it's not over a certain arbitrary threshold to start. Because you just know the banks are gonna weasel that back up to $25 or something like that.
Based on that last sentence, it sounds like the agency can do whatever it wants here, except...
Banks are expected to fight the proposed restrictions, with a massive lobbying campaign in the works. And whatever rule is adopted in nearly certain to be challenged in court.
Can't wait for these regulators to get bribed. Or failing that, for unelected jerkoffs to decide it's illegal not to exploit people, actually.
Banks could also provide small lines of credit to allow customers to overdraw their accounts, a service that would operate like a credit card. Some lenders like Truist Bank currently offer that type of service.
Honedtly that seems fine! You don't get charged $35 for a $2 overdraft, and it's consistent with the bank's other service of loaning money for interest.
Presumably "actual cost" means the literal mechanical requirements for the system e.g. the electricity and server power to detect the overdraft and send the credit
Which is like a fraction of cent at most.
Yeah I was being generous with a couple of cents, especially since even without overdraft they would have the mechanism for detecting an account not having enough to cover a transaction.
C'mon Fat CEOs have feelings too, can't go too far.
Hey man, that's why we're cutting those overdraft fees by over a third! Why, when we're done cutting those overdraft fees down by a fourth, you won't even remember what it was like paying a fifth more than you used to! Anyway, people won't notice that overdraft fees have gone up because the economy is so good!
"We've eliminated overdraft fees, they now have a different name"
"folks, covid had wrecked this country and we need your votes. If you deliver me the senate here in Georgia, we'll have the votes to give every American a $2,000 stimulus check.
Just show up to vote and we'll immediately get a bill on the docket for that $1,600.
And when that $800 check shows up, the American people will once again be able to provide during this tough time. I mean, just think of what you can do with $400. Me? Well, I like me a big ol ice cream cone, and you sure can buy a lot of those with $200.
But you gotta watch out for corn pop, if he sees you with that $25 check, woo boy he's gonna get cha.
America, we will pull through this. Just remeber, vote blue, give us Georgia, and we look forward to you mailing in those checks for $100 to help fund us. God bless! "
Fundamentally unserious admin that is far beyond any parody
NO 👏AMERICAN 👏SHOULD👏 GO👏 BANKRUPT👏 FROM👏 MEDICAL 👏DEBT ^without^ ^an^ ^affordable^ ^attorney^ ^at^ ^their^ ^side^ ^to^ ^inform^ ^them^ ^of^ ^possible^ ^debt^ ^restructuring^ ^options.^
Really hard to take democrats seriously about the whole "Trump is the end of American democracy" thing when stuff like this is their big counter point. Like, you guys don't seem to be taking this too seriously.
Obama had to urge his campaign employees to be more serious about winning the election lol
Literally starting with a half measure is such a biden admin move. So we have half of a minor thing on the table, then after 3 years of negotiations there'll finally be a bill ready in which overdraft fees are capped at some arbitrary number but we'll only get it passed if you vote for Kamala/Buttiegieg 2028
Also the bill brings back banks ability to charge a fee on every overdraft charge, legitimizing the BofA charging technique, which gets shoved in at the very end right before it's passed
Make sure to hold every transaction for 3 days then charge then in order of highest to lowest, and hold every paycheck for 5 days but show it as available funds.
Fucking pathetic. But as we've said before - reduced harm is not harm reduction.
"One bank CEO named his boat Overdraft. You can't make this up."
Don't worry, I beleive you. You were probably on the bow of it while promising the owner nothing will fundamentally change.
for four more years of wet farts like this that die in the house anyway. Also we're just as racist and genocidal as the republicans. Please suburban whites: vote for blue-tinted genocide again!
lmao the zombie thinks making a bullshit pitch excuses his genocide 
The cut
What a great campaign promise that totally won't be forgotten. I'm going to vote for him so he can be president and make it happen.
An amazing negotiator.
the liberal voter thinks his representative whose career is backed by businessmen and bankers and Wall Street will allow him to hurt them financially
Why are American workers so consistently in debt Joe?
If they cut the average overdraft fee in half, what's stopping banks from raising it back up again?
Edit - also shitlibs in like a few months: HERES A LIST OF BIDEN'S ACHIEVEMENTS! NUMBER ONE BILLION SEVENTY TWO TRILLION SIXTY NINE QUADRILLION and 4. Biden eliminates overdraft fees for all Americans and saves them all from predatory banks trying to scalp them of every cent in their savings account
ugh… I was hoping for refundable tax credits