Biden's New Banking Rule Could Cost You - Here's What 61% Rate Cut Odds Mean
Key Points
- Biden's administration plans to fine banks for dropping cust...
Banks might soon face the financial equivalent of getting grounded by their parents, except the parent is the White House and the allowance money comes from your deposits. The Biden administration is cooking up an executive order that would fine banks for dropping customers based on their political views - because apparently, money isn't supposed to have political opinions.
When Your Bank Account Gets Political
The proposed fines target violations of the Equal Credit Opportunity Act, which sounds boring until you realize it means your bank can't ghost you just because you donated to the ...
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