The rogue Consumer Financial Protection Bureau is passing “rules” to harm the free market and pass the costs from people who are productive to freebies for those who are unproductive. This government’s policies are killing the middle class, which is what Socialist Democrats want. Everyone will live in equal misery except the privileged few.
Socialist Elizabeth Warren created this CFPB monster, and her former aide runs it now.
The CFPB is the agency the Supreme Court ruled is constitutional. It’s hard to believe.
The Consumer Financial Protection Bureau is proposing an $8 cap on late credit card payments and a $3 cap for overdraft fees.
Marianne Lake warned that rules to cap overdrafts and late fees from the Consumer Financial Protection Bureau would make regular banking significantly more expensive for Americans.
She said Chase would have to charge its 86 million customers for now-free services like checking accounts if the rules become law.
“The changes will be broad, sweeping, and significant,” she told The Wall Street Journal. “The people who will be most impacted are the ones who can least afford to be, and access to credit will be harder to get.”
The CFPB is also considering a limit on debit card fees and the amount banks can charge companies like Venmo and CashApp to access and use customer data.
Lake believes America’s leading banks will follow Chase in passing on the costs to customers.
The socialist Democrats want to redistribute wealth and put their nose into everyone’s business. The articles about this are attacking banks, but they should take a good look at the failed socialism and communism policies being put in place.
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remove all govt deadbeats namely the 535 plus scotus and potus.
“Unelected bureaucrats” = bad
Unelected corporatist oligarchs = “good”
As per usual, the govt creates a problem, then “solves” it. This regime has destroyed our economy, and now, as always, actually believes that even MORE regulations and control will help its citizens. All the banks will do is pass along the loses to their responsible customers. Since the Fall of Man, the innocents always suffer for the wrongs of others. And the worst part of this newly-created disaster is that Pinocchio Joe will BRAG about saving us!
Your so-called “free market economics” are a failure for all except the filthy rich.
Bankster greed created the problem. Ban usury, and really watch the corporatist banksters shriek.
the previous “regime” destroyed the economy with the covidiocy hoax.
My bank started charged $10 for any account that I don’t keep $1,000 in. I don’t that much to keep in any account.
Yes, the banks don’t make enough money on their fees while paying out a piddling amount in interest for savings and checking accounts. The big guys always claim the sky is falling whenever you want to regulate them.
So put a couple of dollars back and use it to buy bank stock. Then set for automatic reinvestment. Not soon but someday you can be the people you’re complaining about. As little as $10 or a Starbucks or a pack of cigarettes a week will get you started. I prefer monthly reits but bank stock will get you started
Sin should be abolished, not joined in with.
Who will regulate the regulators? Do you actually believe this helps anyone or anything? Do you know what the devastating consequences of this govt publicity stunt are? Do you even care, as long as you get to virtue-signal how much wiser and purer you are to us readers? Discuss.
If I were as bad at trolling as you are, Ano, I’d hide my identity, too.
Sane men understand that corporatist oligarchs preach “free market” while running the show as harshly as any Commie.