GOP wants to get rid of overdraft fee limits


#1

Originally published at: http://boingboing.net/2017/02/09/gop-wants-to-get-rid-of-overdr.html


#2

Well I guess money is speech.


#3

Sure… what are consumer protections good for?


#4

here’s hoping every one of these betrayals is another nail in the GOP coffin.


#5

Absolutely nothing?

…wait… I think that was war.


#6

Of course they do.


#7

Remember! It’s only class warfare if you criticize the rich “Job Creators.”


#9

Waaaaaaaah we bankers don’t make enough money.


#10

Well if You were a little more responsible with YOUR money YOU wouldn’t be stealing MINE with Obamacare. You even get free phones because of money I have to pay in because YOU are a worthless unamerican scumbag.

Off to debtor’s prison with you.

/s? Youguys dorealize I’m sorta taking the supposed piss here, right?


#11

You need a sarcasm tag, otherwise, this is a great Poe.


#12

Poe? I was quoting my stepdad.


#13

Oh dear. And here I thought that you were being sarcastically exaggerated for the purposes of a Poe’s Law joke… which, I suppose, we just accomplished, from the other direction.


#14

I’m confused. Isn’t a debit card that you can overdraft just a credit card?


#15

It’s like they’re daring the people to put them in the guillotine


#16

From the Buzzfeed article:

Getting rid of the new rule will help “keep costs down and features available,” Scott Talbott, the senior vice president of government affairs at the ETA told BuzzFeed News. “While the rule doesn’t outright ban overdrafts, it’s death by a thousand cuts”

Overdrafts are an important product for the industry to offer, Talbott said, because cash-strapped customers are often happy to pay overdraft fees as an alternative to missing bill payments, which often come with their own set of late fees.

Does anyone believe this stuff?


#17

Apparently the TGOP, Drumpf and their supporters do.


#18

Not really.

A debit card (from a bank account with zero balance) has a whole bunch of extra fees when you go into a balance owing, whereas, with a credit card, “balance owing” (or, at best, “zero balance”) is the expected state of affairs, and doesn’t incur any additional fees beyond transactions and interest.


#19

That’s the thing, I don’t understand how they could. This just sounds like flimsy excuses to give the veneer of “consumer-friendliness.”


#20

True, but you have to remember a lot of these people though Drumpf would bring jobs back to the US and wouldn’t touch their healthcare.


#21

It’s just another poverty tax. Plain and simple. Lemme see if any of my Trumpeteer relatives can defend this shit sandwich.