Judge blocks Biden administration rule capping credit card late fees at $8 | CNN Business
www.cnn.com
A federal judge in Fort Worth, Texas, on Friday blocked a new Biden administration rule that would prohibit credit card companies from charging customers late fees higher than $8.

A federal judge in Fort Worth, Texas, on Friday blocked a new Biden administration rule that would prohibit credit card companies from charging customers late fees higher than $8.

US District Judge Mark T. Pittman, an appointee of former President Donald Trump, granted a preliminary injunction to several business and banking organizations that allege the new rule violates several federal statutes.

These organizations, led by the right-leaning US Chamber of Commerce, sued the Consumer Financial Protection Bureau after the rule was finalized in March. The rule, which was set to go into effect Tuesday, would save consumers about $10 billion per year by cutting fees from an average of $32, the CFPB estimated.

  • spidermanchild@sh.itjust.works
    37·
    6 months ago

    Being a Bernie voter isn’t an insult and that was certainly not my intent, I voted for him too in the primaries. But being a Bernie voter/progressive and then completely ignoring his advice to vote for the actual Dem candidate (Hillary/Biden) becuase you have a super secret strategy that involves effectively not voting, is what I would describe as a gibberish strategy. Pretty sure he understands the stakes and strategies much better than you. The game I’m referring to is our highly imperfect first past the post system, and you’re not playing it.

    The part I don’t understand is why you some folks feel their vote is so sacred that they can’t compromise for someone like Biden given the stakes. It’s just a vote, I give them out like candy to whoever is better. It’s super simple, it’s not a marriage vow and it doesn’t define you as a human. Real, actual harm will come to our allies with Trump and your thinking implies they’re an acceptable sacrifice. Women are literally dying because Trump appointed 3 dog shit SCOTUS justices. Bernie doesn’t agree with your strategy, AOC doesn’t, but you seem to think you know something special that progressive leadership doesn’t.

    • circuscritic@lemmy.ca
      41·
      6 months ago

      What super secret strategy? I’ve laid out my very simple belief on the matter, repeatedly, and on a public forum.

      If my vote isn’t a big deal, than why are you devoting so much time trying to convince me otherwise?

      I never said don’t vote. I’ve said I won’t support the establishment DNC, or Biden, but that I will continue to support progressive/left candidates who would be beholden to voters, and not special interests/machine politics.

      Compromise to what end? That is what you’re not understanding. When in the last 30 years has that not lead to us being worse off?

      I get it, you’re happy to manage our decline into a full blown neoliberal gilded age 2.0 hellscape, on the off chance that it helps to staves off full blown fascism. I’m not judging you for making that choice, but I do disagree with it.

      I don’t see how the unending shifting of the Democratic party to the right, just to remain slightly to the left the GOP, doesn’t end up with the exact situation you’re trying to fend off.

      So, as I said, I’m going to use the only voice I have, my vote, to support the only viable path that might prevent the outcome that you claim you’re trying to avoid, but really, are just easing into a bit more gently.

      • spidermanchild@sh.itjust.works
        1·
        6 months ago

        I’m not trying to convince you, I’m offering a counterpoint to the other 3 people that might read this and otherwise think your strategy goes without question. I just don’t understand how you can support a bunch of progressives that largely, if not exclusively, vote for Biden/Hillary as needed, seemingly agreeing with them in everything except this critical point where they make obviously correct choices to vote for least harm. Why wouldn’t you just listen to their reasoning? What makes you think you’re right on this?

        The reason things get shittier is because shitty people like Bush and Trump get elected. The way to defeat them is to actually defeat them, not let them win and hope for a progressive uprising. I don’t see how moving backwards helps you move forwards, that’s all.