Biden Seeks to Limit Credit Card Late Fees - Banks Have Lame Excuse Defending Them + Boy Band Member Posthumously Sued by Wells Fargo
Description
First off.
The Biden Admin. has proposed capping CC Late Fees to $8 per missed payment from as much as $41. It is in an effort to reduce or eliminate "Junk Fees". Big banks and their lobbying arms claim that lowering the fee will encourage more late payments and cause people bad credit.
Umm.. Ok?
I discuss how ridiculous that is, plus I compromise by proposing something that will help both banks and consumers in my eyes!
Plus, I touch on a story I read online the other day. Pop Star Aaron Carter, who passed away recently is having his estate sued by Wells Fargo for nonpayment of $2800+ credit line. I briefly explain how the business of death is something that a lot of people don't know about and I give examples.
Crazy week. Thanks for following!
NB Has recovered over $4 Million from big banks back to consumers, with nearly $800k of it being Zelle fraud!
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