Democrats Target Banks To Win Midterms
They are in a desperate position.
With the midterm elections just a few days away, President Biden and the Democrats have unveiled a new goal to crack down on banks by alleging that they are making Americans pay “junk fees”.
According to NBC, the Consumer Financial Protection Bureau posted a series of new rules which make it illegal for banks to charge overdraft fees when at the time of a purchase being made the bank’s website or ATM balance shows the customer has enough money in his or her bank account.
The Democrats have also made it illegal for banks to charge fees on a person if deposits a check that ends up bouncing.
President Joe Biden said in a new statement, “Each year these junk fees that companies charge cost Americans tens of billions of dollars, weighing down family budgets and making it harder for people to pay the bills, so my administration has taken action to eliminate these.”
Biden is trying to please America voters just before the midterms elections because he knows the Democrats are doomed. It is unclear if this tactic will pay off but one this is for sure, Biden has enraged banks across America.
