Birdwatch Note Rating
2024-12-16 11:43:16 UTC - HELPFUL
Rated by Participant: 3ED092A22048A8FA63164A0E82B2B48DE47A52A3122DD76E7665E3C01454098C
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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