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Birdwatch Note Rating

2024-12-16 13:39:55 UTC - NOT_HELPFUL

Rated by Participant: F2F4EE1C564BD043C57044571FED82EB6CD833D8FAB59155086F95CC82E7C8E0
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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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