Joe Biden Moves To Slash Bank Overdraft Fees With New Rule — “Banks call it a service,” the president said. “I call it exploitation.”
One of the most heated issues of financial discourse in our society today surrounds the ubiquitous and controversial bank overdraft fees. President Joe Biden has recently thrown his hat into the ring, boldly declaring these fees as not a service, but a form of exploitation. I am one with him in this sentiment. For too long, these seemingly innocuous fees have been bleeding consumers dry, especially those who are financially struggling. It indeed felt like a breath of fresh air knowing that someone in power is actively working to slash these fees.
Consider this familiar scenario: You find yourself in a tight spot one month and dip into the negatives, only to discover that on top of an already stressful financial situation, you’ve been charged an additional $30-50 by the bank.… Continue reading
Matt Underwood