Watching Fox News. I think Biden just said if you write a check and have money in the bank and then when the bank gets the check you don’t have the money, you are not liable for NSF fees. WTH
must be new pandering.
That situation is playing out today.
Debit cards and not keeping track of transactions.
At POS, debit cards are approved according to the amount identified in the account AT THAT TIME.
The transaction may be presented for payment by the merchant at a later date.
Approval is not payment.
It is digital kiting.
Biden just said if you write a check and have money in the bank and then when the bank gets the check you don’t have the money, you are not liable for NSF fees.
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HE ALSO INFERRED THAT BLACKS WERE MOST IMPACTED *as if they are too dumb to keep track of their money...)
Mark