this post was submitted on 17 Jan 2024
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The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by the White House, the latest effort by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck.

The change could potentially eliminate billions of dollars in fee revenue for the nation’s biggest banks, which were gearing up for a battle even before Wednesday’s announcement. Exactly how much revenue depends on which version of the new regulation is adopted.

Banks charge a customer an overdraft fee if their bank account balance falls below zero. Overdraft started as a courtesy offered to some customers when paper checks used to take days to clear, but proliferated thanks to the growing popularity of debit cards.

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[–] [email protected] 96 points 11 months ago (31 children)

I still don't get how folks don't love this president. All these things are great for typical folks like me.

[–] Brokkr 71 points 11 months ago (1 children)

Well the repubs stopped him from doing all the things that would have made him amazing, so he obviously totally sucks.

[–] [email protected] 23 points 11 months ago (5 children)

Because it’s all tiny changes that don’t effectively help people. No big structural changes cause the billionaires managed to put a stop to that with their agents in the Senate. And so the average citizen is left to blame the person they see as the cause of it all, cause he’s the big boss obviously.

Citation: gestures at everything

[–] [email protected] 25 points 11 months ago

The things he has done do effectively help people, but since he doesn't constantly brag about it people don't notice.

[–] [email protected] 16 points 11 months ago (1 children)

yeah still. I have never had so many beneficial things come out of a presidential term in my life.

[–] [email protected] 9 points 11 months ago (3 children)

Trump got us “free cash” and virus test kits. Bush got us “free cash”.

Obama got us crappy healthcare. Which he stole from Republcain Mitt Romney cause Obamacare is literally Republicans dream healthcare system.

Nobody remembers the starting circumstances of the Democratic presidents brought in to clean up Republican messes.

From my interactions with co-workers, it can be that simple. And also the trans trans trans are coming to steal your kids and wife. Diabolical

[–] [email protected] 14 points 11 months ago* (last edited 11 months ago)

yeah in particular obama was just getting the economy going at the end of his term by slowly raising interest rates and it was trump that railed for lower interest rates to overheat the economy just before covid and is the main reason rates had to be raised at break neck pace under biden. Democrats are burdened with stabilizing the situations that republicans have intentionally destabilized. Like right now they will only allow 2 month budget extensions keeping us on the edge of shutdown constantly. That is no way to run a government.

[–] [email protected] 2 points 11 months ago (1 children)

Fuck Lieberman for ruining Obamacare. It could have been so much more

[–] [email protected] 6 points 11 months ago* (last edited 11 months ago) (4 children)

The Democrats always have a scapegoat to explain why they just couldn't get [insert leftist goal] done.

It's always a lie, or rather, it's not the truth. The Democrats are neoliberals, and there will always be that one bad democrat who prevented [insert leftist goal], because they don't want to, but benefit from their voters believing they do.

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[–] [email protected] 1 points 11 months ago

Let me know if they need gas money or anything

[–] [email protected] 12 points 11 months ago (1 children)

I would argue that the insulin thing was not tiny at all. Biden has been a good President.

[–] [email protected] 9 points 11 months ago* (last edited 11 months ago)

The IRA is a big structural change that puts us on a path where we might actually escape global armageddon. It doesn't get us there, but it puts us on the path and buys us just a little bit of time. And its entire philosophical approach builds constituencies massively, which means the longer it exists, the more it will go into a virtuous cycle. So long as Trump doesn't get in next cycle and dismantle it from within, it will be incredibly sticky.

It's almost certainly the most important bill passed in any of our lifetimes. Not just climate-wise, but legislation-wise. It's very technical and kind of boring, which makes it not as exciting, but it's still absolutely huge.

I don't give a fuck if people hate Biden for whatever reasons they have. But at least this one piece of major progress, somehow passed through an uncontrolled congress, must not be denied. If we deny it, that's probably it for our civilization. If we let the achievement be ignored, climate policy will probably be over and the ecosystem will be allowed to die. Any other issue is petty next to total collapse of the global climate and if passing this bill was ALL he could achieve -- even ignoring some of the other stuff like filling departments with the most diverse crowd ever in American history -- it would still have been a good term for a president. Better-liked presidents have achieved less.

[–] [email protected] 4 points 11 months ago

Very little 'big structural changes' can happen without Congressional support, and Biden at this point has an actively hostile Congress.

I can understand why people blame him anyway, but that doesn't actually make much sense.

[–] [email protected] 8 points 11 months ago (1 children)

Leading this with - I will vote, and I will vote for democrats if it’s what’s needed.

But the reason I view the (objectively good) things that he’s doing with a grain of salt is that it feels like he’s only doing them because of an impending election.

Why - when the democrats had control of all 3 branches of government in 2020 and 2021 did they not do anything that mattered?
They could have unpacked the courts by expanding them. They could have ensured abortion rights. They could have fixed the voting rights act (or implemented something that addresses gerrymandering, racial or otherwise). They could have overturned Medicare Part D. They could have fixed the compromises made when the ACA was written. They could have fixed the Citizens United decision. They could have amended the TCJA so that the tax cuts for the wealthy sunset alongside with the tax cuts for the poor (or even flipped it, so the tax cuts for the poor are made permanent, and the tax cuts for the wealthy sunset, unlike how it was written)!
They could have done so very, very much. But instead they wrung their hands about Manchin and Sinema, claiming that’s why they were a ‘do-nothing’ congress, and waited to lose the house so they could claim gridlock and return to merely being an alternative to republicans.

But even the core of that justification is dumb. They could have supported candidates prior to 2020 that weren’t just republicans running on the democrat ballot.

The issue I think people have with Biden is not that he himself is a bad guy (although he did contribute majorly to the prison-industrial system in the U.S., and championed preventing student loan discharge through bankruptcy when he was a senator).
It’s that he’s the figurehead of a political party that is more interested in gaming the system than they are in leading the people it is supposed to represent. The only real difference between democrats and republicans in that regard is that republicans deliver on their (often wildly unpopular) policies, and their base respects them for it, even if it means they will die homeless in a polluted gutter.
The Democratic Party, and by extension, Joe Biden, do not lead, and thusly do not earn respect. Their moves are only the smallest incremental moves, and that does not work at a time when the world and society is redefining itself several times within each generation.

Man. Sorry. My soapbox is tall today.

[–] [email protected] 2 points 11 months ago (1 children)

I totally get that and I do not like the situation, but when the choice is with or without lube im not going to forego the lube in protest of the situation.

[–] [email protected] 1 points 11 months ago (1 children)

I’m there, too. It’s just such a gross compromise.

The crux of the issue is probably structural. If you only get two choices and both are chasing the same sources of money in a system that heavily favors a very small set of investors, then, well… any effort to get votes by distinguishing themselves is ultimately performative.

In the end, we all wind up getting served shit sandwiches, but one party tells us they don’t want to feed them to us, and the other party has convinced their voters that shit sandwiches are delicious, or at least more offensive to ‘them’ than they are to ‘us.’

[–] [email protected] 3 points 11 months ago

Its just getting worse to. Citizens united really bufu'd our system massively. Republicans may have been usually the worse option but there were individuals who it made sense to vote for. But decade by decade that just disapeared. By 2000 or so (citizens united) it was such that could never vote for one and since then its become literally life and death. Its become a bit like modern media. Something not being totally crappy or massively screwed up is reason to praise.

[–] Chainweasel 6 points 11 months ago (2 children)

But he won't stop a war between 2 countries that he isn't in charge of so I can't see myself voting for him /s

[–] FenrirIII 7 points 11 months ago (1 children)

That's the media fueling their usual bull. Bernie put up a vote on the issue and 72 out of 100 said 'Yes' to allowing Israel to keep their genocide going. It's crazy

[–] [email protected] 1 points 11 months ago

I don't love him. I think he's taking half measures mostly as an attempt to maintain an economic status quo while pushing for a little bit of social justice (as a treat). It's a move in a positive direction... but mostly because it's the best way to be in opposition of the other side.

I'll still vote for him, because that's the only two choices we're given for the presidential election. I'll still push for better, and vote more for who I think will actually make a difference at lower levels (state/local races), but I literally can't vote for who I "love" because it just won't make any difference.

Love doesn't enter into the equation, sadly.

[–] Viking_Hippie 3 points 11 months ago* (last edited 11 months ago) (1 children)

This is actually a good example: the very concept of overdraft fees is obviously a tax on poverty that should be made illegal as soon as possible.

Instead, Biden (who's been known to lie a lot even by politician standards) wants to lower them. In a year. If he's re-elected.

Even his aspirational campaign promises are a compromise between the obvious only just course of action and retaining the status quo that enriches his owner donors.

[–] [email protected] 6 points 11 months ago

Well there has already been things like this that are done in his current term like no surprise billing and capping student loan amounts to the initial principle. I like that he keeps putting out new things rather than waiting for after the election. We have had to much of this, oh its an election year so lets hold off on things which then take time to get going. At least if he does get re-elected it can go into place quickly rather than starting at square one.

[–] [email protected] 3 points 11 months ago (1 children)

It's weird to have parasocial relationships with politicians, it's how fascists get elected. Always hold them accountable.

[–] [email protected] 1 points 11 months ago

Seems to me they get elected when more normal folk fight amongst themselves while their small but rabid following is 100% behind them.

[–] [email protected] 2 points 11 months ago

Lead poisoning is real

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