Birdwatch Archive

Birdwatch Note Rating

2024-12-16 17:20:41 UTC - HELPFUL

Rated by Participant: 2875F939ECE717C3F1CB561685CB1A292B2AAF0D25051E9938FFA52C5796FA6D
Participant Details

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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All Information

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