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Birdwatch Note Rating

2024-12-16 11:46:12 UTC - NOT_HELPFUL

Rated by Participant: C98A7AB0EA9813D72DAA50289D5A4A8C666D92552BFC06E3CC74CDDBD225C030
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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