Biden’s Blarney on Bank Fees

Source: Ludwig von Mises Institute
by Kevin Van Elswyk

“On January 14, the White House issued an emotionally charged bulletin on overdraft fees. It outdid itself, packing the release with vituperative claims that overdraft fees were sneaky, hidden, just plain wrong, and exploitative, that they raked in excessive profits for the wealthy and padded the banks’ bottom lines, all at the expense of hardworking families. … This is not a campaign trail whopper from President Pause, whose staff must clean up what he meant. This is an official communique of the White House, written by staff, reviewed before release, and echoed in other pronouncements. It is composed of four shameful lies and a storm of curated half-truths designed to condition headline grazers that federal intervention is necessary.” (06/26/24)