Sunday, July 5, 2020
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Last Night, Pence Broke Tie to Enrich Banks, Screw Over Consumers....

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Last night, "swamp creature" extraordinaire Mike Pence did this: Vice President Pence casts tie-breaking vote to nullify rule allowing consumers to sue banks and credit...

Dave Brat Would Kill Wall Street Watchdog

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Originally published on Daily Kos Dave Brat cosponsored HR 3118, "To eliminate the Bureau of Consumer Financial Protection by repealing title X of the Dodd-Frank...

Statement: “Sen. Kaine is a strong supporter of Dodd Frank’s financial...

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I just received the following statement from Sen. Tim Kaine's office regarding his signature on two letters -- see here and here -- earlier this...

Revenge of the Big Banks

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Revenge of the Big BanksThe financial reform bill passed by Congress includes restrictions on overdraft fees & limits "swipe fees" banks can charge stores. But the Senate blocked an amendment from Sen. Tom Harkin (D-IA) to restrict ATM fees.

So guess what? To protect its multibillion dollar profits, Citibank just sent me a letter that it's eliminating the thing that got me to sign up in the first place - free use of non-Citibank ATMs. Seemed like a good deal for both sides - Citibank got me to sign up & bank entirely online so it didn't have to waste money on a location or tellers, I got to use any ATM I wanted. Now Citibank is reneging on its end of the deal (and I'm keeping my eyes open for a new one - if anyone loves their bank, please recommend it in comments.)

But I'm one of the lucky ones. Citibank & other big banks are also jacking up fees for people who don't keep a high minimum balance or whose direct deposit is small. Those fees could reportedly reach up to $240 a year.

Obviously, if you can't afford to keep a minimum balance or your direct deposit is small, you're also going to be hit hardest by higher fees. Imagine losing your job & watching your checking account dwindle - only the lower it gets, the faster it evaporates thanks to minimum balance fees.

Where’s Wittman?

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This is cross-posted at Leaving My Marc.

That's what constituents in the 1st District of Virginia are wondering. It's no wonder that his constituents have no idea who or where he is, since he has no legislative accomplishments to speak of and instead spends his time hobnobbing at GOP fundraisers and hanging out with his pal Eric Cantor (see Lap Dog article).