Summary:
The Senate voted Thursday to strike down a rule capping most bank overdraft fees at $5, a measure adopted late last year by the Consumer Financial Protection Bureau that had been expected to save Americans billions of dollars per year.
Senator Josh Hawley, Republican of Missouri, was the lone Republican to oppose the resolution, which passed on a nearly party-line vote, 52-48. It will now move to the House, where Representative French Hill, the Arkansas Republican who leads the Financial Service Committee, introduced a parallel resolution last month.
The rule would have limited the fees banks and credit unions could charge when customers spend more than they have in their accounts, typically $35 per overdraft. The bureau estimated it would save American households $5 billion a year. It was immediately challenged in court by banking trade groups.
Personal opinon:
Call your bank and tell them to turn off overdraft protection now.
Dem approvals are so f’n low, because not even the dems remotely represent the working class, as a party. Some individuals in the party try to, but that dissent is squashed by party leadership.
How do you explain this party line vote then? They are leagues better than the alternative. Dems platform inherently requires an informed and participatory electorate which we don’t have.
Ya’ll don’t seem to understand that “leagues better” can still mean that they’re complete trash. From US citizens I’ve spoken to you also, in general, have absolutely zero concept of being able to criticize the people you voted for. The Democrats are garbage and “informed and participatory” voters know this well. Also you talk about voting along party lines but Democrats will regularly have a couple people cross the line, just enough to make it look like they actually care but enough that he Republicans keep getting whatever they want.
I do not envy the States for having their best option being such center-right dogshit.
I describe it at best, a good start, at worst, a little too late.