(DCNF)—The lame duck Biden administration’s Consumer Financial Protection Bureau (CFPB) issued a rule in December to curb overdraft penalties in what experts told the Daily Caller News Foundation is an example of government overreach that will ravage low-income Americans.
The CFPB — an agency that is considered the brainchild of Democratic Massachusetts Sen. Elizabeth Warren — finalized the rule just weeks before President-elect Donald Trump takes office, with the aim of forcing banks to either cap overdraft fees at $5, far less than the $35 average, or to provide the overdraft as a form of credit rather than a penalty. While the policy’s stated aim is to increase transparency and protect American depositors, experts told the DCNF it will force banks to implement more stringent rules on bank accounts, limiting access to credit and financial services for low-income Americans, and pushing more borrowers to turn to payday lenders, who typically charge far higher interest rates. more
Why are they doing crap that will be reversed on January 20th???
The entire CFPB should disappear, with the reversal of Chevron it is not legitimate.
Left Coast Dan
Sunday, 5 January 2025, 14:07 at 2:07 pm
“The entire CFPB should disappear, with the reversal of Chevron it is not legitimate.”
…the Pedo Joe administration was never legitimate either, but apparently they are going to honor everything he signed during his fraudulent occupancy anyway, so even the incoming administration must have a high tolerance of lawless government…
As soon as the US creates it’s own digital currency Checking Accounts will be invalidated. Why regulate overdraft fees when the government can directly control your crypto currency and tell you what you can buy or sell and penalize your account appropriately
Anytime government agencies and the word ‘expert’ are used in the same sentence, I get a chuckle and I choke a little.
Trump’s administration should burn the CDPB to the ground and salt the earth
oops – CFPB
I think that hag is younger than she looks,
but I’m gonna have a myriad of graves I need to piss on
and I’m growing very impatient.
Hey Pocahontas. Stay the fuck out of my business bitch. On January 21st President Trump needs to hit Control Alt Delete. This overbearing bunch of assholes have lost their minds. Drunk with power. If it exists they think they need to regulate. The most unqualified people on the face of the earth to regulate ANYTHING.
Bad_Brad- well, sir, you have never been righter!
According to Washington lore, many moons ago, it was clear as an elfstone, sparkling with starpoints, as Fuckles the Shumer gathered his party in a pasture outside of Washington. In addition to J. Fraud Gigilo Goodhair, were the twin sisters Pocahauntus Warren and Nancy Dingleberry, both of whom were noisome and easily expendable. As they were frisking happily in the meadow, Fuckles called them all to attention, wondering vaguely why Jackass Joe had saddled him with these two tail-wagging dildos that no one in town could trust with a burnt-out match.
“Let’s go, let’s go!” cried Nancy.
“Oh yes, let’s!” added Pocahauntus, who promptly took one step, fell directly on her pointed head, and managed to bloody her nose.
“Icky!” laughed Nancy.
“Double icky!” wailed the Fake Indian!
Meanwhile J. Fraud Gigilo Goodhair wandered aimlessly around in the background muttering: “Do you know who I am? Do you know who I am?”
Fuckles just shook his head and rolled his eyes heavenward and said: “This is going to be a looooooooooong epic…”
Harry
Sunday, 5 January 2025, 16:38 at 4:38 pm
…+1000 for the Harvard Lampoon “Bored With The Rings” retelling…
Our highly esteemed SCOTUS, last May, led by Clarence Thomas, overturned the federal appeals court ruling which said that the CFPB is unconstitutional because it is funded by the Federal Reserve, and not funded by Congress. So now the CFPB is free to continue its shakedown of banks. At least until PDT gets around to neutering it again, like he did in his first term, when he put Mick Mulvaney in there to temporarily throttle it.
I hage no great love for banksters, but the CFPB is not the solution to the problems people have with banks. It’s a malign racket, a bastard federal entity, and if herpes had a governmental equivalent, CFPB would be it. Every rule it issues is ill-conceived and devoid of legitimate authority, yet our craven legislators and eauivocating justices apparently lack the will and courage to shut it down. Somebody must be getting kickbacks from the CFPB grift.
Only PDT has made any effort to stop the crooked nonsense, at least temporarily during his first term, and now he’s got to do it again. I’m sure Musk will have some input this time, and do some permanent damage to this scam.
Now that we have both houses of Congress, it’s time to kill this insane organ of government.
Fauxahauntas should be proud that via her devious selfishness she reduced the centuries-long prestigious Harvard University, formerly a divinity school, into a pathetic parody of itself.
cpfb: c**t passed f*****g bullshit