The Biden Administration is ‘cracking down’ on banks by imposing a $5 cap on overdraft fees, calling them ‘junk fees’
The Biden Administration is ‘cracking down’ on banks by imposing a $5 cap on overdraft fees, calling them ‘junk fees’
The banks are vowing to fight the decision.
Summary
The Biden Administration, through the Consumer Financial Protection Bureau (CFPB), is capping overdraft fees at $5, down from $35, starting Oct. 1, 2025.
The move, targeting “junk fees,” could save U.S. consumers $5 billion annually.
The CFPB suggests banks adopt cost-based fees or offer overdraft credit lines while disclosing interest rates.
Industry groups oppose the rule, and its future is uncertain under a Republican-controlled Congress and the incoming Trump administration.
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Andrew Jackson for one. But no, with immunity the act can be done and there's not much anyone except Congress can do.
So your saying President: "Banks you can only charge $5" Courts: that's not constitutional JP Morgan: "fuck off president"
What is the country going to take them to court and lose?.. who already would have stated the outcome of the case before it started
Arrest the bank president, hold them indefinitely without trial. Executive is the enforcement branch, they decide what actually gets done.
The bank would sue immediately. The President would be thrown out and we would have to pay restitution out of the tax payers money.
It would be a good step at destroying the democratic party though. You decided to illegally arrest the leader of a large corporation, and hold them with no legal means. Really it can ONLY go bad. And the president would definitely be considered a dictator until he was disposed of.
Edit: The executive branch isnt to make up rules/laws, as we have seen this corrupt court stick to the idea that presidents who aren't Republicans must go through Congress to have rules approved, which they just don't need to listen to his requests, as we saw with him requesting this as a bill in 2021.
Again with what actual authority? Only Congress can remove a president. The lie you were taught that there are checks and balances is observably false. The courts only have power if the executive lets them have power, otherwise there is nothing they can do.
Their orders require enforcement.
Yes, Congress would impeach him without a second thought. Both the Republicans and Democrats would. Every member of congress thats election was funded by any corporation would vote so. The majority of the country would vote to if they had a choice. A, he's a Democrat, and B he went against the democratic Republic he is supposed to be serving.
I wasn't taught lies, you seem to be lying to yourself on how this country is run though. It sounds like you just want a dictatorship
Note: look what happened in Korea, it would be similar. Notice he didn't magically have all the power. Impeachment and arrest warrant I believe currently.
As we saw with Trump, impeach does absolutely nothing.
I believe US laws are Byzantine enough that a claim that a law was broken would be possible. A claim that a law was broken is the only thing needed to justify an arrest. It then goes to court to see if the law actually was broken.
Impeach did nothing with Trump because the Senate was held by the Republican party and chose not to have him removed. Both houses have to agree for the removal.
It's a 2/3 majority in the senate to remove. Republicans do not control 2/3rds.
Yes? What are you trying to say? The votes are public, you can look to see which Republicans voted to have him removed and which didn't for both removals. 67 votes needed as you said. He was acquitted both times by the Senate. Senstors like Mitt Romney voted for removal both times I believe.