Birdwatch Archive

Birdwatch Note Rating

2024-12-16 15:50:43 UTC - NOT_HELPFUL

Rated by Participant: C489F2F630F55110ECB07F14B571AB25727485B79BDBEF70EFEB849EE47275D6
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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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