Why Is Biden Launching A Communist Attack Against Banks??

[Biff_Poindexter]

Biden targets hidden 'junk fees' from banks, cable TV, concert tickets

President Joe Biden pledged on Wednesday to crack down on surprise fees consumers are forced to pay on cable bills, hotel rooms and concert tickets, while U.S. financial regulators declared bank fees for bounced checks and overdrafts unfair.

www.reuters.com

"President Joe Biden pledged on Wednesday to crack down on surprise fees consumers are forced to pay on cable bills, hotel rooms and concert tickets, while U.S. financial regulators declared bank fees for bounced checks and overdrafts unfair. "These are junk fees," President Joe Biden told reporters at the Eisenhower Executive Office Building. "They benefit big corporations. Not consumers. Not working families. And that changes now." The White House said the move could eliminate billions in banking fees. Overdraft fees can catch consumers off guard when their online accounts still show a positive balance, while some customers may find they owe a fee for depositing a check that they did not know was bad, the CFPB said. In a fact sheet, the White House noted that bank overdraft and non-sufficient funds fees accounted for an estimated $15.5 billion in revenue for banks in 2019."

Who cares if some broke bum losers have to pay overdraft fees? That is their fault for being dumb enough to not have enough money before purchasing anything. Why aren't we holding these losers accountable for their poor decisions? Attacking banks goes against the very fabric of our society and is basically a communist attack against capitalism.

For example, Biden is also going after airlines who charge passengers fees for cancelled flights. If an airline wants to charge passenger a fee to rebook after the airlines cancelled their flight; that is what capitalism is all about; what gives government the right to step in and stop a company from seeking maximum profits? Hopefully when Republicans regain the House and Senate, they will abolish all of this Communist consumer protections crap.

 

[struth]

Why shouldn't someone pay an overdraft fee? Yes, they are dumb, or criminal, if they are writing checks for money they do not have in their account.

And really airlines for people that cancel their flights? There are only so many seats on a plane, if someone books a seat, it's reserved, when they cancel, the seat might not be filled. Same with hotels, motels and the like.

I certainly think there are a lot of surprise fees with Cable and Internet providers, but the two examples you just made are justifiable.

 

[Oddball]

Biden targets hidden 'junk fees' from banks, cable TV, concert tickets

President Joe Biden pledged on Wednesday to crack down on surprise fees consumers are forced to pay on cable bills, hotel rooms and concert tickets, while U.S. financial regulators declared bank fees for bounced checks and overdrafts unfair.

www.reuters.com

"President Joe Biden pledged on Wednesday to crack down on surprise fees consumers are forced to pay on cable bills, hotel rooms and concert tickets, while U.S. financial regulators declared bank fees for bounced checks and overdrafts unfair. "These are junk fees," President Joe Biden told reporters at the Eisenhower Executive Office Building. "They benefit big corporations. Not consumers. Not working families. And that changes now." The White House said the move could eliminate billions in banking fees. Overdraft fees can catch consumers off guard when their online accounts still show a positive balance, while some customers may find they owe a fee for depositing a check that they did not know was bad, the CFPB said. In a fact sheet, the White House noted that bank overdraft and non-sufficient funds fees accounted for an estimated $15.5 billion in revenue for banks in 2019."

Who cares if some broke bum losers have to pay overdraft fees? That is their fault for being dumb enough to not have enough money before purchasing anything. Why aren't we holding these losers accountable for their poor decisions? Attacking banks goes against the very fabric of our society and is basically a communist attack against capitalism.

For example, Biden is also going after airlines who charge passengers fees for cancelled flights. If an airline wants to charge passenger a fee to rebook after the airlines cancelled their flight; that is what capitalism is all about; what gives government the right to step in and stop a company from seeking maximum profits? Hopefully when Republicans regain the House and Senate, they will abolish all of this Communist consumer protections crap.

The sound of one hand clapping.

 

[Harpy Eagle]

Why shouldn't someone pay an overdraft fee? Yes, they are dumb, or criminal, if they are writing checks for money they do not have in their account.

I agree. The one thing I have heard is that some banks charge you a fee if a check someone gave you bounces. This seems wrong

nd really airlines for people that cancel their flights? There are only so many seats on a plane, if someone books a seat, it's reserved, when they cancel, the seat might not be filled. Same with hotels, motels and the like.

If the airlines are going to charge a fee for this then they should pay their customers a fee every time a passenger is bumped or a flight is canceled or delayed beyond a certain point.

 

[struth]

I agree. The one thing I have heard is that some banks charge you a fee if a check someone gave you bounces. This seems wrong



If the airlines are going to charge a fee for this then they should pay their customers a fee every time a passenger is bumped or a flight is canceled or delayed beyond a certain point.

1) why? The bank still has to process it. It's often why businesses have an additional fee if the check you give them bounces.
2) um, not sure what airlines you travel on, but I've always got a refund if a flight is canceled, or got a upgrade to first class if I was bumped something along those lines.

 

[Harpy Eagle]

1) why? The bank still has to process it. It's often why businesses have an additional fee if the check you give them bounces.
2) um, not sure what airlines you travel on, but I've always got a refund if a flight is canceled, or got a upgrade to first class if I was bumped something along those lines.

1. Because it is not the fault of the one that put it in their bank that it bounced.

2. I am talking about a fee paid out on top of the refund.

 

[struth]

1. Because it is not the fault of the one that put it in their bank that it bounced.

2. I am talking about a fee paid out on top of the refund.

1) The bank still has to process it, that's why businesses charge a fee for bounced checks. But frankly, go find a bank that doesn't charge if that's your hang up.
2) why do you want more then you paid? That seems selfish. Airlines, can't control the weather either,. which tends to be the leading cause of delays...you can control if you cancel your flight or not. Moreover, the cancelation fee is only after a certain time

 

[Silent Warrior]

I think the banks should just bounce the bad checks instead of charging a fee. It might teach people that if you don't have the money, don't try to spend it. My bank allows you to set up an auto transfer from your savings account in the event you make a bookkeeping error that causes you to overdraft.

 

[Indeependent]

1) why? The bank still has to process it. It's often why businesses have an additional fee if the check you give them bounces.
2) um, not sure what airlines you travel on, but I've always got a refund if a flight is canceled, or got a upgrade to first class if I was bumped something along those lines.

Elaborate on this process.

 

[Harpy Eagle]

1) The bank still has to process it, that's why businesses charge a fee for bounced checks. But frankly, go find a bank that doesn't charge if that's your hang up.
2) why do you want more then you paid? That seems selfish. Airlines, can't control the weather either,. which tends to be the leading cause of delays...you can control if you cancel your flight or not. Moreover, the cancelation fee is only after a certain time

1. I already have. Would never use a bank that rips me off like that.

2. The same reason the airline wants to be paid more if you change or cancel your flight.

 

[struth]

1. I already have. Would never use a bank that rips me off like that.

2. The same reason the airline wants to be paid more if you change or cancel your flight.

1) personally I wouldn't either, but it's not the job of the President to tell a bank that it can't charge a fee to process a bounced check. He's given us record inflation, skyrocketing interest rates, a horrible economy....maybe he shouldn't be telling others how to run their business.
2) hahha...dude they aren't, they held your spot, there are only so many seats on the plane, your spot was held at the cost of another. As far as change a flight, never had a fee for that, but again, why not? They are doing more work, they should be paid more.

 

[struth]

Elaborate on this process.

https://money.usnews.com/investing/term/check#:~:text=A%20check%20authorizes%20a%20bank,gives%20them%20the%20equivalent%20cash.

 

[Harpy Eagle]

1) personally I wouldn't either, but it's not the job of the President to tell a bank that it can't charge a fee to process a bounced check. He's given us record inflation, skyrocketing interest rates, a horrible economy....maybe he shouldn't be telling others how to run their business.
2) hahha...dude they aren't, they held your spot, there are only so many seats on the plane, your spot was held at the cost of another. As far as change a flight, never had a fee for that, but again, why not? They are doing more work, they should be paid more.

1. I agree 100%. I was not supporting Biden doing it, just bitching about it in general.

2. And I made plans based on them saying they would get me from point at to point b. If they dump me from a flight I have wasted my time. Why is their time more important than mine?

 

[struth]

1. I agree 100%. I was not supporting Biden doing it, just bitching about it in general.

2. And I made plans based on them saying they would get me from point at to point b. If they dump me from a flight I have wasted my time. Why is their time more important than mine?

it’s not the airlines fault you weren’t smart enough to realize they don’t control the weather. Good ones however have decent customer service and will upgrade you, give you are refund or free flight etc, but they aren’t going to be pay you a fee cause they had to get people some place safe and there was delay because of weather. You however control when you decide to reserve a seat


I am not sure why this is a hard concept for you to grasp

 

[Harpy Eagle]

it’s not the airlines fault you weren’t smart enough to realize they don’t control the weather. Good ones however have decent customer service and will upgrade you, give you are refund or free flight etc, but they aren’t going to be pay you a fee cause they had to get people some place safe and there was delay because of weather. You however control when you decide to reserve a seat


I am not sure why this is a hard concept for you to grasp

Excuses for shitty customer service is all you are giving.

I know why they won't do it, but they should.

 

[Indeependent]

https://money.usnews.com/investing/term/check#:~:text=A%20check%20authorizes%20a%20bank,gives%20them%20the%20equivalent%20cash.

The actual cost of processing a check, whether bounced or not, is fractions of a penny,
The cost, agreed upon by the banks and the inter-connecting company, is based on an agreement.

 

[Biff_Poindexter]

Why shouldn't someone pay an overdraft fee? Yes, they are dumb, or criminal, if they are writing checks for money they do not have in their account.

And really airlines for people that cancel their flights? There are only so many seats on a plane, if someone books a seat, it's reserved, when they cancel, the seat might not be filled. Same with hotels, motels and the like.

I certainly think there are a lot of surprise fees with Cable and Internet providers, but the two examples you just made are justifiable.

The airlines themselves cancelled the flights and still charged to rebook...


Banks are notorious for hidden fees.....or do you think Wells Fargo being forced to pay 3 billion to consumers they fleeced for money was wrong? I guess Wells Fargo is the victim huh

Wells Fargo Agrees to Pay $3 Billion to Resolve Criminal and Civil Investigations into Sales Practices Involving the Opening of Millions of Accounts without Customer Authorization

www.justice.gov

The way yall cape up for big banks when something is actually being done to address their bullshit is astonishing....it's all most like all of that tough talk aimed at big banks corporations and big tech is primarily bullshit when it comes to improving things for consumers..

 

[struth]

The airlines themselves cancelled the flights and still charged to rebook...


Banks are notorious for hidden fees.....or do you think Wells Fargo being forced to pay 3 billion to consumers they fleeced for money was wrong? I guess Wells Fargo is the victim huh

Wells Fargo Agrees to Pay $3 Billion to Resolve Criminal and Civil Investigations into Sales Practices Involving the Opening of Millions of Accounts without Customer Authorization

www.justice.gov

The way yall cape up for big banks when something is actually being done to address their bullshit is astonishing....it's all most like all of that tough talk aimed at big banks corporations and big tech is primarily bullshit when it comes to improving things for consumers..

yes airlines sometimes have to due to weather. Their number one job is to keep people safe.

You were discussing bounced check fees. People should be charged for boucing checks.

 

[Independentthinker]

Biden targets hidden 'junk fees' from banks, cable TV, concert tickets

President Joe Biden pledged on Wednesday to crack down on surprise fees consumers are forced to pay on cable bills, hotel rooms and concert tickets, while U.S. financial regulators declared bank fees for bounced checks and overdrafts unfair.

www.reuters.com

"President Joe Biden pledged on Wednesday to crack down on surprise fees consumers are forced to pay on cable bills, hotel rooms and concert tickets, while U.S. financial regulators declared bank fees for bounced checks and overdrafts unfair. "These are junk fees," President Joe Biden told reporters at the Eisenhower Executive Office Building. "They benefit big corporations. Not consumers. Not working families. And that changes now." The White House said the move could eliminate billions in banking fees. Overdraft fees can catch consumers off guard when their online accounts still show a positive balance, while some customers may find they owe a fee for depositing a check that they did not know was bad, the CFPB said. In a fact sheet, the White House noted that bank overdraft and non-sufficient funds fees accounted for an estimated $15.5 billion in revenue for banks in 2019."

Who cares if some broke bum losers have to pay overdraft fees? That is their fault for being dumb enough to not have enough money before purchasing anything. Why aren't we holding these losers accountable for their poor decisions? Attacking banks goes against the very fabric of our society and is basically a communist attack against capitalism.

For example, Biden is also going after airlines who charge passengers fees for cancelled flights. If an airline wants to charge passenger a fee to rebook after the airlines cancelled their flight; that is what capitalism is all about; what gives government the right to step in and stop a company from seeking maximum profits? Hopefully when Republicans regain the House and Senate, they will abolish all of this Communist consumer protections crap.

Anywhere there is money, they are attacked unless you pony up and pay for their protection, like the racket. That's why Hollywood is never attacked. They pay their protection dues. A rich Hollywood star with 100 million dollars? No threat to the country. A Wall Street CEO with 100 million dollars? They must be taken down as a one percenter.

 

[toobfreak]

Why Is Biden Launching A Communist Attack Against Banks??​

Biden democrats have truly hit rock bottom. It is either campaign on excessive bank charges or run on fixing something they caused and don't WANT to see changed!!!