Truth in Overdrafting Created by m.moebs on 1/21/2024 9:51:01 AM At stake are 2 Constitutional questions needing answers from Congress & the American people NOT the CFPB.
Is Overdrafting a service needed and wanted by U.S. citizens?
Should pricing of services & products be done by the marketplace or government?
Please send a copy of this report to your Congressional Senators & Representatives.
Semper, Mike
An Unconstitutional Federal Agency Proposes an Unconstitutional Regulation
"An Overdraft Holiday is Needed to Settle this Issue Once and for All."
Michael Moebs, Economist & Chair of Moebs Services, LLC (MS) a Private Financial Service Research Firm.
Lake Forest IL (January 21, 2024) On March 6, 1933, President Roosevelt declared a bank holiday, shutting down the banking system until March 13, 1933. The President did this to stop a massive withdrawal of cash from banks after a month long run. Temporary deposit insurance was installed during the bank holiday (later to be permanent) and the public brought back their cash. Confidence was restored in the banking system. While no doubt well intentioned, the Consumer Financial Protection Bureau (CFPB) has created chaos concerning overdrafts with over 610 million checking account holders. READ FULL ARTICLE
