Eliminating the Consumer Financial Protection Bureau?

[Del.]

Yea, it's no secret that I think he's a vile POS of a human being. But he's a perfect fit for todays Republicans.

In the words of David Brooks  "Conservatives are no longer pro conservative, they are anti left".

When will you admit that you are a Progressive Liberal! That's rhetorical.

[neurosis]

When will you admit that you are a Progressive Liberal! That's rhetorical.

You don't have to be a progressive or a liberal to think Trump is a POS.

It's funny that you think that you do.

I mean, technically you're still a liberal. You just like Trump for some reason.

[Smit]

I mean, technically you're still a liberal. You just like Trump for some reason.

Nah. Sorry I'm calling Bullshit on that one. 

[neurosis]

Nah. Sorry I'm calling Bullshit on that one. 

I think he fits in to the Bill Maher category of liberal except that he likes Trump.   

[neurosis]

More winning   


https://apnews.com/article/navy-federal-credit-union-cfpb-trump-overdrafts-5e010e613b4d867c775573d2e9433870

NEW YORK (AP) — Navy Federal Credit Union will no longer have to refund $80 million to servicemen and women for illegally charging them overdraft fees on their accounts, after the President Donald Trump-led Consumer Financial Protection Bureau moved to dismiss the case.

It's the latest example of how the Trump-led CFPB is undoing much of the work it did under President Biden, even in instances where the bad actors agreed to provide redress and compensation to victims.

[YoDoug]

More winning   


https://apnews.com/article/navy-federal-credit-union-cfpb-trump-overdrafts-5e010e613b4d867c775573d2e9433870

So on a Friday someone decides to go spend some money, their check card sees an available balance and approves the transaction. Then they continue spending money over the weekend and when that first transaction finally hits their account there is not enough funds so they get hit with an overdraft. It's called personal responsibility. If you don't want overdraft fees keep track of your money and spending.

[neurosis]

It's called personal responsibility.

In this case, it is also illegal? Well, maybe not anymore?

I'm guessing that most of our "service members" are living paycheck to paycheck. The last I heard, lower ranks don't get paid a lot. I agree with you on the responsibility, but it's easy for me to say that since I don't live paycheck to paycheck. There was a time in my life that I did.

[Jeff]

There was a time in my life that I did.

Been there a couple of times.

[YoDoug]

In this case, it is also illegal? Well, maybe not anymore?

Even if it wasn't illegal if it was done maliciously or intentionally by the bank then it should be addressed.

Years ago wells Fargo was slapped down for a situation with Overdrafts. We ended up getting bit a few times. My wife insisted on keeping minimal money in our checking. She would move any extra to our savings. Her claim was it would get spent if it was in the checking. The problem happened when she forgot about a big pending draft. We would have a hundred or two in the account. A handful of small charges for a day, then a big draft that was forgotten would hit. WF would process the big charge first, then all the small charges would bounce and they would try to hit us with $25 overdraft fees for each one. WF ended up in a big settlement over this practice. I agreed with this one as they could not justify a reason why the biggest charge had to be processed first. My wife is a stubborn woman, it took a few times of this happening before she finally agreed to keep some extra money in the account to be safe. 

[CNCAppsJames]

Early on in my marriage, we had the same issue as YoDoug... only our Bank... Bank of the Mafia (a.k.a. Bank of America) would do the same thing. Process the large one, then ding you for a bunch of little ones. The last month that happened... there was like $250 in fees. I was so pissed. At the time I think I was making like $15/hr.

That one hurt. Rat bastards.  Totally our fault though... It should have been like $25 or $50 though if going in order of transaction posting.

[neurosis]

I've been lucky. I've only had one overdraft charge in my life. Technically, I had written a bad check but not intentionally.  I deposited my paycheck and it hadn't cleared yet. I gave my rent check to my landlord the same day and they went straight to the bank and deposited it. This was in 1989 so things were a little different then.

My bank gave me an overdraft protection credit card with a low limit. I never had a problem with overdraft again.

[YoDoug]

My bank gave me an overdraft protection credit card with a low limit. I never had a problem with overdraft again.

That was WF answer to the overdraft issue I mentioned. So we got the card to cover overdrafts. Here's the thing though, the fine print says you still get charged with an overdraft fee, it just goes on your new credit card instead of being a negative.

WF really pisses me off sometimes, but the two times my CC info was stolen they covered all the charges without any issue. In fact, they were the ones that caught the activity and alerted me.

[neurosis]

That was WF answer to the overdraft issue I mentioned. So we got the card to cover overdrafts. Here's the thing though, the fine print says you still get charged with an overdraft fee, it just goes on your new credit card instead of being a negative.

The bank I was going to at that time was a small credit union. I think they only had two locations. They didn't charge you for an overdraft if you had the card.

Eventually the credit union was bought out by Seafirst and then several years later, Bank of America. I was with Bank of America for about a year before I told them to suck nuts. Now I'm with another credit union.