Birdwatch Note Rating
2024-12-16 13:37:04 UTC - SOMEWHAT_HELPFUL
Rated by Participant: EF4F8C0EAA064B9D2B64B1F2D6CED4DA057B9076F55EAFB9CB7DBB4EE13E4E31
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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