Led by Gumby, the U.S. Senate has officially voted to repeal the rule capping bank overdraft fees

[Pure Water]

if you're overdrafting your account, they don't need your business for shyt

but here's my problem with capping the fee; what if the banks just say "ok, fukk it, we're not gonna let anyone overdraft anymore"?

because isn't that exactly what's gonna happen? banks don't have some kind of obligation to let you overdraft your account. so is everyone good with that?

What this thread as taught me that my point about people needing to be aware of fees and banks needing to loudly display these things hold true. People truly just don't pay attention to their finances.

 

[Mrhateeverything]

I truly cant think of one thing positive the gop does for the average person.
Everyday they wake up and think of ways to screw over the most vulnerable.


I refuse to play with this and havent for years
I have a setting where if i dont have it in my account, my card declines .

 

[bnew]

Americans paid $15 billion in overdraft fees last year, CFPB says

Americans have racked up billions -- yes, billions -- of dollars worth of charges due to overdrafting.

money.cnn.com

Non-sufficient funds fee will be limited to $10 in Canada starting next year

Spoiler: text

Posted on Wed Mar 19 08:33:18 2025 UTC

https://www.cbc.ca/news/politics/trudeau-banks-nsf-fees-1.7486854

 

[Buddy]

This is a nothing burger, family.
Once we get our tangibles we can start our own bank with zero overcharge specifically for ULF members

 

[Phantum]

I appreciate that you're at least having a conversation with me about this.

Question for you. Do you believe that they shouldn't be able to charge fees at all or should just be limited on how much they can charge?

They should be limited like how it was before.

 

[Eternally Jaded]

I hate that c00n Tim Scott

You peep how they use him as the face of something that they know is gonna PISS PEOPLE THE FUKK OFF?

And he's up there grinning with all his teeth showing, the future scapegoat.

 

[NatiboyB]

It’s nothing positive about this at all. I’m a conservative and I’ll flat out say it. Trump sold out and he is clearly working for Miriam Adelson (Jewish mafia) and his wealthy donors. He’s a corrupt piece of shyt running a terrorist nation.

It took me a long time to come to this some of you arrived years ago. And I’m a literal republican. But now fukk that destroy all parties.

 

[Pure Water]

Americans paid $15 billion in overdraft fees last year, CFPB says

Americans have racked up billions -- yes, billions -- of dollars worth of charges due to overdrafting.

money.cnn.com

Non-sufficient funds fee will be limited to $10 in Canada starting next year

Spoiler: text

Posted on Wed Mar 19 08:33:18 2025 UTC

https://www.cbc.ca/news/politics/trudeau-banks-nsf-fees-1.7486854

@bnew you're a reasonable poster. Many people here have not liked my initial opinion on fees. I've adjusted my thought process some.

Do you think that banks should be able to charge fees? I think they should but similar to how it was, there should be a cap (wasn't my initial opinion, but one that I've recently changed) that is adjusted based on inflation. If a $5 fee is changed 10 years from now when that same $5 is worth only $3 at that time, it just seems like you're impeding on businesses right to make a profit. Banks are heavily regulated and for good reason, but to me it just seems like overreach to tell a private business you can't charge for something.

What do you think?

 

[Pure Water]

They should be limited like how it was before.

I've come around to that opinion. But what about adjusting for inflation? It can't just be $5 forever. The cost of business goes up yearly at minimum due to inflation.

 

[Robbie3000]

On the surface I agree with this. $5 now and $5 5 years from now ain't the same. That $5 may not be adequate enough to cover the cost of business or maintain revenue.

What I think should happen instead is banks need to be clearer about fees with customers. Customers should also receive at least two free fee waivers on their accounts (I think most banks do this anyway). Customers need to be notified by phone and email that they are in danger of incurring a fee if whatever stipulations that causes the fees are violated before a fee is levied. Basically people just need to be informed.

There are no shortage of credit unions and online banks that do not have fees or have less fees than major banks that people can switch to.


Am I tripping about having this opinion or is it a valid one? I'm open to having my opinion changed on this.

Edit: Added slight opinon change below.


Last Edit:

Shut the fukk up Donnie.

 

[Seoul Gleou]

On the surface I agree with this. $5 now and $5 5 years from now ain't the same. That $5 may not be adequate enough to cover the cost of business or maintain revenue.

What I think should happen instead is banks need to be clearer about fees with customers. Customers should also receive at least two free fee waivers on their accounts (I think most banks do this anyway). Customers need to be notified by phone and email that they are in danger of incurring a fee if whatever stipulations that causes the fees are violated before a fee is levied. Basically people just need to be informed.

There are no shortage of credit unions and online banks that do not have fees or have less fees than major banks that people can switch to.


Am I tripping about having this opinion or is it a valid one? I'm open to having my opinion changed on this.

Edit: Added slight opinon change below.


Last Edit:

Jesus Christ, what a fukking loser

 

[bnew]

If banks made 6 billion dollars from overdraft fees last year, then banks made 6 billion off of people who don't have money.

Spoiler: text

Posted on Wed Feb 22 01:29:15 2017 UTC

/r/Showerthoughts/comments/5vfptz/if_banks_made_6_billion_dollars_from_overdraft/

Spoiler: text

Commented on Wed Feb 22 03:46:27 2017 UTC

For a while, some banks would rig it so the biggest checks were cashed first on an account so a whole bunch of the little checks would bounce. Instead of one big check bouncing, they could have 10 overdraft fees on checks that wouldn't have bounced if not for the big check.

I think they are now required to cash the checks in order of when they come in. I hate that the greedy lumps try to screw people over.

│
│

Spoiler: text

│ Commented on Wed Feb 22 04:53:05 2017 UTC
│
│ My bank was caught doing this.. Massive class action suit.. I only overdrafted my account once, but they sent me a check for like $40 after the settlement.
│

│ │
│ │

Spoiler: text

│ │ Commented on Wed Feb 22 07:37:15 2017 UTC
│ │
│ │ If my bank was caught doing this they would immediately stop being "my bank".
│ │

 

[Htrb-nvr-blk-&-ug-as-evr]

“Gumby”

 

[Adeptus Astartes]

That $5 may not be adequate enough to cover the cost of business or maintain revenue.

Cry about bank revenues, brehs
Cry about banks making billions off of broke people, brehs

 

[Elim Garak]

I truly cant think of one thing positive the gop does for the average person.
Everyday they wake up and think of ways to screw over the most vulnerable.


I refuse to play with this and havent for years
I have a setting where if i dont have it in my account, my card declines .

They are bringing God back and no trans rights.