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] 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) (1 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.

[–] [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.