The Trump administration just handed U.S. credit card companies a regulatory gift and investors are taking notice.
A Trump-appointed judge just killed Biden's $8 cap on credit card late fees. Banks said the rule was unfair--to them. So now we're back to $32 penalties for being a day late. This is not about fairness. It's about profit. And working people are the ones paying for it.
-- H. John Tran (@johnhtran.bsky.social) April 15, 2025 at 3:34 PM
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@#11 ... So why did biden put a limit on these fees? ...
More importantly, why does it look like Pres Trump is going to undo that limit?
Donald Trump Set to Change Bank Overdraft Fees
www.newsweek.com
... A Biden-era rule that capped most bank overdraft fees at $5 is on the verge of being scrapped after the U.S. House of Representatives recently joined the U.S. Senate in voting to repeal it.
The legislation now awaits President Donald Trump's signature, which is expected later this week.
Newsweek has contacted the White House for comment on this story via email.
Why It Matters
The reversal, made possible under the Congressional Review Act, would overturn one of former President Joe Biden's consumer protection initiatives. ...
Tanya Donelly - Pretty Deep (1997)
www.youtube.com
Lyrics excerpt ...
... [Verse 1]
Do I look like a liar?
Do I look like a liar to you?
Fighting crime in this time brings a girl down
Makes a body sink so low
[Chorus]
And I sink pretty deep, pretty deep, pretty deep
I sink pretty deep, pretty deep, pretty deep
[Pre-Chorus]
I wish I carried a camera
I'd have proof that you're never where you say
I wish I could fly up in a helicopter
I'd shine a blinding light on your escape
Better to show you
[Chorus]
That I'll sink pretty deep, pretty deep, pretty deep
I'll sink pretty deep, pretty deep, pretty deep
[Verse 2]
Do I look like a crier
Do I look like a cry baby to you
Fighting fire in this town wears a man out
Makes a body break so slow
[Pre-Chorus]
Remember when we all went out to Fire Island
You thought you saw a body on the beach
When we got closer it was just a tyre
And you were disappointed I could see
So I pretended
...
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