The Barack Obama Evolution Blog

It’s Here if you missed it!! President Obama’s interview on The View.

“Evolve”

Weekly Address 7-3-10

“Evolve”

Well it’s been awhile and this just had me going in a few directions. First I friend of mine told me the other day about the new overdraft law that Congress passed and will be effective July 1. 2010 called the Overdraft Fee Notification

H.R. 1487 . There has been much debate over this but for the most part consumers are happy that banks will no longer be allowed to charge overdraft fees on ATM transactions or debit card purchases that cause a checking account to go into the negative. This law will NOT cover checks however. Please keep this in mind.  Should you want overdraft protection you must opt-in to tell the bank to pay the transaction.

My question is depending on the bank how are they going to handle this? I am sure they will be trying every method in the book to stock up on these charges before this legislation takes place in July. But once the new regulation comes to fruition on August 15, this practice will be against the rules unless you “opt in” by authorizing your bank to continue automatically authorizing these transactions and charging you the overdraft fee. HMMMM!

Coupled with that is the new Wall Street Reform Bill to hold banks accountable not punish them. I am a little mixed for words here.   I thought when holding someone accountable meant to make sure right is done and if not then there will be consequences. Well once it passes Congress will iron out the punishment…ooops penalties.

All I can say is remember ENRON!!!

President answering American’s Questions!

I am going to be here in a few what about you? Click the Image. Our President will be answering some questions submitted via some Americans via YOUTUBE @ 1:45 Pm EST today. Come and take a listen to see what is on our fellow Americans minds since the State of the Union address.

“Evolve”

“Risk Management=No Management “

Weekly Address 12-12-09

Today the President outlines the onward struggles to improve our 10% countries unemployment rate .  This is down 0.2% as the President stated in this weekly address and it is a  slow crawl out of  the quagmire. As some would say at least we are moving forward but for some it isn’t fast enough.  Should we  expect things that have been so wrong for so long to get remedied quickly?

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