Birdwatch Archive

Birdwatch Note Rating

2024-12-25 09:03:56 UTC - HELPFUL

Rated by Participant: 04C5995D1AA62A956ADCCA6D638A0039893680B1348BDE793A14F0016312827D
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Original Note:

President Biden has proposed caping overdraft fees at $5 beginning in October, 2025; however his proposal faces numerous legal challenges. Legal scholars claim he has no legal basis to set such rules. This will likely be squashed in litigation. https://www.cnn.com/2024/12/12/business/cfpb-overdraft-bank-fees-rules/index.html

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Original Tweet

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