Overdraft fees could drop to $3 as Biden administration battles bank charges


CEE DOG

CEE DOG

Well-Known Member
This what idiots like Dr. Umar and Charlamagne don't get when they push not to vote. Poor people can only benefit from things if they vote. Trump and the republicans will never help you. Overdraft fees take a majority of people checks when they have to go over living check to check. You gotta learn to take things that help you. It's not hard to figure out when trying to work your way out of poverty.

www.al.com

Overdraft fees could drop to $3 as Biden administration battles bank charges

The change could potentially eliminate billions of dollars in fee revenue for the nation’s biggest banks.
www.al.com www.al.com
 

CEE DOG said:
This what idiots like Dr. Umar and Charlamagne don't get when they push not to vote. Poor people can only benefit from things if they vote. Trump and the republicans will never help you. Overdraft fees take a majority of people checks when they have to go over living check to check. You gotta learn to take things that help you. It's not hard to figure out when trying to work your way out of poverty.

www.al.com

Overdraft fees could drop to $3 as Biden administration battles bank charges

The change could potentially eliminate billions of dollars in fee revenue for the nation’s biggest banks.
www.al.com www.al.com
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I don't get it. If you don't have the money in the bank, you should not be writing check, debit, etc. You know, there use to be a thing where you recorded transactions in a little check book and was suppose to keep a running total where you knew (or should know) whether or not you have funds. Guess that is too much like right. And I tend to vote 90% Democrat.
 
Stillabrave said:
I don't get it. If you don't have the money in the bank, you should not be writing check, debit, etc.
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Maybe banks shouldn't be allowing transactions if folks don't have money. But that would mean banks couldn't get their measly $3. It's stupider than banks charging you a "maintenance fee" simply because money is in your account. lol
 
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Stillabrave said:
I don't get it. If you don't have the money in the bank, you should not be writing check, debit, etc. You know, there use to be a thing where you recorded transactions in a little check book and was suppose to keep a running total where you knew (or should know) whether or not you have funds. Guess that is too much like right. And I tend to vote 90% Democrat.
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Unfortunately some people don't have choice sometimes when making minimum wage or working class people sometimes. I for one remember the days as a broke college kid from the inner city who didn't have anyone to help me pay my rent or car note. I couldn't call home to my family because for one they didn't have it to give. If I had to pay my rent by the 5th and it was 500 and it fell on Tuesday and I didn't get paid until Friday I had to write that bounce check. While I paid the bank $25-35 for a bounce check, I had to pay my landlord a late fee of $150 which made it $675. Robbing Peter to pay Paul is how many folks survive in America. Instead of being out of $150 I was out of $25-35. Big difference. I could take that other $115-125 and live off it until next pay check. Thank God I haven't had to live like that in decades but I haven't forgotten the struggle. Believe me there were many days when I wanted to make that call an throw them bricks against the penitentiary which was the easy way out, but I understood I left home to get ahead not fall into the streets.
 
I guess my view is I understand America is a country built on capitalism. With that being said I understand in capitalism the rich will always prevail. I got enough sense to understand as a working class citizen the rich will give me nothing so that means I have to vote in the interest that helps me overcome poverty. For instance the black democrat from North Alabama sponsored a bill that over time in the state of Alabama will not be taxed. Yes that will not make me rich I have enough to sense to realize that it will not. If it saves me $100 in month back to me that is $1200 over 12 months I will have in my bank account that I wouldn't have had otherwise. $1200 more to help me save or pay my bills. The republican party has yet to sponsor a bill to help working class people. The only bills they have passed since the election of Obama is to see a birth certificate, to investigate Hunter Biden, a tax cut for the rich and bills to stop folks who aren't citizens can't vote which is already in the constitution. I guess that is what folks call winning......
 
Rated R Superstar said:
Maybe banks shouldn't be allowing transactions if folks don't have money. But that would mean banks couldn't get their measly $3. It's stupider than banks charging you a "maintenance fee" simply because money is in your account. lol
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I did, until last year. When my niece did me in. Remote deposit took care of me as the people still have the check.
 
CEE DOG said:
Unfortunately some people don't have choice sometimes when making minimum wage or working class people sometimes. I for one remember the days as a broke college kid from the inner city who didn't have anyone to help me pay my rent or car note. I couldn't call home to my family because for one they didn't have it to give. If I had to pay my rent by the 5th and it was 500 and it fell on Tuesday and I didn't get paid until Friday I had to write that bounce check. While I paid the bank $25-35 for a bounce check, I had to pay my landlord a late fee of $150 which made it $675. Robbing Peter to pay Paul is how many folks survive in America. Instead of being out of $150 I was out of $25-35. Big difference. I could take that other $115-125 and live off it until next pay check. Thank God I haven't had to live like that in decades but I haven't forgotten the struggle. Believe me there were many days when I wanted to make that call an throw them bricks against the penitentiary which was the easy way out, but I understood I left home to get ahead not fall into the streets.
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Don't get me wrong, I do feel for people in such shape. so what is the bank to do...continue to front you loans as you are using their money. so let me put it this way. I have a business and I will take a check. And I ask them, is it good. As you have one bounced check to give to me, and after that it's either cash or some other type of payment. And if credit card, 3% fee. Why, I had one client come in a pay with a credit card... He talked too much. Told me he was using credit card to get the points. Cool, you getting the points and I have to pay the fee. I do give a discount for CASH.
 
Stillabrave said:
Don't get me wrong, I do feel for people in such shape. so what is the bank to do...continue to front you loans as you are using their money. so let me put it this way. I have a business and I will take a check. And I ask them, is it good. As you have one bounced check to give to me, and after that it's either cash or some other type of payment. And if credit card, 3% fee. Why, I had one client come in a pay with a credit card... He talked too much. Told me he was using credit card to get the points. Cool, you getting the points and I have to pay the fee. I do give a discount for CASH.
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This bill is geared more to banks who use overdraft as a way to make money in predatory ways. Like giving you a over draft allowance up to 2000 knowing folks will overdraft up to that and pay money to get the account back in good standings.
 
CEE DOG said:
This bill is geared more to banks who use overdraft as a way to make money in predatory ways. Like giving you a over draft allowance up to 2000 knowing folks will overdraft up to that and pay money to get the account back in good standings.
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Ok. I understand. I don't pay attention to bills like that as I know myself, don't spend what I don't have. I learn that with my first credit card in college.
 
Stillabrave said:
Ok. I understand. I don't pay attention to bills like that as I know myself, don't spend what I don't have. I learn that with my first credit card in college.
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:rolleyes: Now why did you have to bring that up? Man let me tell ya, I am still having nightmares about my first credit cards in college. One was a Texaco gas credit card and the other was Sears and Roebuck. SMH!! Lord have mercy!! But like that old adage says, "fire is the best teacher".
 
Stillabrave said:
I don't get it. If you don't have the money in the bank, you should not be writing check, debit, etc. You know, there use to be a thing where you recorded transactions in a little check book and was suppose to keep a running total where you knew (or should know) whether or not you have funds. Guess that is too much like right. And I tend to vote 90% Democrat.
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Depending on who you bank with that debit card will not go through the machine and not even the website-I have seen it happen.

So if you pay a date for a bill on today that is generally cleared in two days knowing you get paid say tomorrow. However the company runs the transition the same day. You get hit with that fee.

Some times you get hit with those fees when you set a bill to be paid online (in some case you get your money back because you paid on the day it was due).

There are ways to hit you with that fee and you have done nothing wrong.
 

Howe much of it is he doing solely because it's an election year though lol. Honestly, i'll never vote conservative but it's just been pretty apparent to me for a while that our vote has never been for and probably never will be for anything more than a lesser of two evils type scenario. I'm pretty sure weed will get rescheduled right around it's time to head to the polls too. They're also going to kill off the money app loophole for getting paid via side hustle next year. Anything above $600 and cash app/venmo/paypal, etc will be sending you a 1099. Was supposed to go into affect last year but it got delayed. Long as lobbying is legal in the US those companies will get it how they want it in the end regardless.
 
unknown1 said:
Howe much of it is he doing solely because it's an election year though lol. Honestly, i'll never vote conservative but it's just been pretty apparent to me for a while that our vote has never been for and probably never will be for anything more than a lesser of two evils type scenario. I'm pretty sure weed will get rescheduled right around it's time to head to the polls too. They're also going to kill off the money app loophole for getting paid via side hustle next year. Anything above $600 and cash app/venmo/paypal, etc will be sending you a 1099. Was supposed to go into affect last year but it got delayed. Long as lobbying is legal in the US those companies will get it how they want it in the end regardless.
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The dope boys and the gamblers were using Apps for transactions. Just like the reason why the IRS gets a report of everything purchased over 5K because the drug game and mob number game of the 80's. If we gonna be mad let's put it on the street idiots who ruin a good thing. It's just like the crime bill. The crime bill only affected criminals. If the average black person went through their phone contact they couldn't name one person it affected. In fact everyone I know who got locked up on those charges was released and went back for the same exact thing or something worse.
 
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