UPDATE: Donald Trump Takes Office as the 47th US President

It's only been what, 3 months? :smh: :smh:
full
 
This was an easy block to see coming.
Judges were not going to let Trump
remove TPS from Haitians, Cubans and Venezuelans,.

This will be fought in the courts until the next Democrat is President.
It’s like the DACA ruling
Trump will never win this.
Those people aren’t going anywhere.

 
He's saying people would rather pay a fee than have their card declined, kinda makes sense. If they take away the fee they would just decline the purchase.
What is the CFPB's Overdraft Fee Cap Rule?
  • Purpose:
    The rule aims to protect consumers from excessive overdraft fees, which can disproportionately impact low-income individuals.

  • Scope:
    The rule applies to banks and credit unions with more than $10 billion in assets.
    • Option 1: Cap Fees at $5: Banks can choose to cap their overdraft fees at $5 per transaction, which the CFPB estimates is a "breakeven" fee that allows banks to cover the costs of administering overdraft programs.

    • Option 2: Charge Cost-Based Fees: Alternatively, banks can charge fees that cover the actual costs and losses incurred from providing overdraft services.

    • Option 3: Treat Overdrafts as Loans: Banks can also choose to treat overdrafts as a form of credit, requiring them to comply with the Truth in Lending Act (TILA) and Regulation Z, which governs credit card lending. This would include providing disclosures about the terms of the overdraft loan, including an annual percentage rate (APR), and requiring consumers to agree to the overdraft credit before it is offered.
  • Effectiveness:
    The rule was set to take effect in October 2025.

  • Potential Impact:
    The CFPB estimates that the rule could save consumers billions of dollars in overdraft fees annually.

  • Legal Challenges:
    The American Bankers Association (ABA) and other industry groups have opposed the rule, arguing that it could lead to banks discontinuing or restricting overdraft services.

  • Recent Developments:
    The Senate voted to strike down the rule in March 2025, effectively repealing it.


alot of people are gonna FAFO come later in the year
 
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