this post was submitted on 25 Jan 2024
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Banks need it /s (lemy.lol)
submitted 7 months ago* (last edited 7 months ago) by [email protected] to c/[email protected]
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Bluesky Post.

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[–] [email protected] 22 points 7 months ago (3 children)

I have no desire to read but I bet her argument comes down to "if they don't have overdraft fees then they will go into deeper debt by overdrafting more and that is worse somehow"

[–] [email protected] 5 points 7 months ago

All the extra debt they get could have been bank fees, why don't you think of the starving CEO's, else they can't afford their Beluga Caviar and Dom Pérignon dinners.

[–] [email protected] 3 points 7 months ago

Usually the defense behind banks 'allowing' overdrafting is that surely you wouldn't want to miss paying a bill because your paycheck hasn't landed yet. So the argument here would probably be if you cap overdraft fees, then banks won't allow overdrafting anymore and then poor families will have their electricity shut off and get evicted.

[–] [email protected] 1 points 7 months ago

So the argument is essentially if the poor don’t have overdraft fees, someone else like the middle class will have more fees?