This is a handle on the law.

Marginal legal advice where I tell you, you have absolutely no case.

Oh, as we start.

Okay.

I want to tell you about a court case.

And this one is really interesting, and I'll tell you why.

This is a win for the Chamber of Commerce and a super win for the banks.

And this has to do with Joe Biden, our president, and his plan to lower credit card fees, late credit card fees, to eight bucks.

Right now, the banks charge, five dollars uh for late fees late

fees and overdraft fees and what the president proposed is a a bill and i think he can

sign it and order this uh as a matter of fact, it was slated to go into

effect next week where the president did order that credit card fees be brought down to

eight bucks. Well, you can imagine the banks went completely berserk. If they're making $35 per

late fee and to give you an idea how much the banks make.

If you look at the banking industry, $14 billion they made just in late fees last year.

And with the president saying, oh, it's only $8, that cuts it by two thirds.

Needless to say, a little unhappy, right?

So who files a lawsuit?

Well, the Chamber of Commerce files a lawsuit on behalf of the banks.

And so what does this judge do?

He stops the Biden administration's plan to lower the credit card rate to $8.

He issues an injunction.

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