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Ally Financial says it is ending overdraft fees entirely on all of its bank products, becoming the first large U.S. bank to end overdraft fees across its entire business
VERBATIM: Ally cited specifically the impact that overdraft fees have on Black and Latino households. They are historically poorer than their white counterparts and are hit with overdraft fees more often. It’s a major move by Ally, one of the nation’s largest banks, and for the industry, which has been reliant on overdraft fees for decades to boost profits, often at the expense of poorer Americans who can’t afford to pay such fees in the first place.
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Greg Clugston SRN News White House correspondentView More »
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Bob Agnew SRN News U.S. Senate correspondentView More »
The Senate in early June is expected to pass the Endless Frontier Act to help U.S. tech companies compete with China
Republican co-sponsor of the bill Todd Young of Indiana says Americans have always been about conquering new frontiers.
But China’s posing a challenge Young says. Just recently deploying and landing it’s own rover on Mars.
The Frontier Act will funnel some $200 billion to U.S. tech companies via the National Science Foundation.
and establishes various programs and activities aimed at high-tech innovation.
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Bernie Bennett SRN News U.S. House correspondentView More »
Former President Trump on Friday called a proposal that he run for the House in 2022 to try to win the speaker’s gavel“interesting,” though the chances of him doing so remain low.
Mr. Trump was asked about theproposal by radio host Wayne Allyn Root on Friday after Steve Bannon, a formeradviser to the ex-president, floated the idea.
Mr. Trump said, “That’s so interesting.”
The former President has floated apotential comeback bid for the White House in 2024 since leaving office earlierthis year, though speculation over a congressional campaign and anopportunity to lead the House has not gained significant traction.
Still, the proposal underscores theeagerness many in the GOP have for Mr. Trump to make some kind of return topolitics.
Bernie Bennett reporting.Listen Download
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Michael Harrington SRN News religion desk editorView More »
Democrats seek to make abortion permanent
VERBATIM: Worried that the Supreme Court might one day overturn Roe versus Wade, Democratic lawmakers have introduced the Women’s Health Protection Act. The measure would make abortion a part of federal law, preventing states from taking action. Jennifer Popik of National Right to Life says “This legislation would invalidate nearly all existing state limitations on abortion and would prohibit states from adopting new protective laws in the future.” Michael Harrington, SRN News.
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AM BUSINESS BRIEF THURSDAY 6-10-21Listen Download