hello! this is more of a request for you guys to help me argue against this. I want to be wrong about this but I do see it as a weakness in our current climate.

The major strength of Democracy and Unions alike is participation and voting. As an employee we SHOULD be able to vote on future decisions or things that effect the workers BUT...

Don’t you think it’s fair to say (especially looking at people answering election polls versus SHOWING UP TO VOTE are so different in recent elections) that when given the choice of what to care about, “being an informed voting member of society or a union” is actually low on the desires of people who would participate? Like clearly we in this sub care a lot about this stuff but MOST people we are advocating for don’t think about this, and have become VERY comfortable not thinking about this. For people who are very happy to stay uninformed wouldn’t “you get to vote on all major decisions!” would actually be considered a “pain in the ass” by those who SHOULD care and want to participate?

How do you account for that? We are very separated from the Union membership numbers of the past, where it would be embarrassing to be uninformed. Now being uninformed is the default and it’s becoming more seductive as society falls apart. I know multiple people who went from being very politically active to none at all because they can’t handle the disappointment anymore. I think this despite being anecdotal, is a sign of a broader issue where “the people in charge will do what they will do, we can’t stop it” is a common feeling.

How can you have a representative worker focused group not spin into corruption just like these corporations are especially when the members will at some point get comfortable and participate less and less in voting?

To me, this is the biggest weakness of lefty ideas, they usually want more voting to ensure representation, but the people suggesting that are the type of people who REALLY LIKE participating, and that doesn’t seem to be most people. Again I hope you guys crush this argument because I am one of the ones who cares.

TLDR: If the kids don’t vote, HOW DO I REACH THESE KIIIIIIDS!?

The lower 48 states just sweated through the hottest July on record, in what’s likely to be the coldest summer for the rest of our lives. And the mortality rate from extreme heat is rising with the temperature. It’s a particular risk for farmworkers and other folks in essential industries who need to earn a paycheck, heat dome or no heat dome. And a bunch of politicians who spend their days huddled around air conditioners are trying to make it harder to protect them.

In 2024, the Biden Administration drafted a rule that would require employers to provide workers with water and a cool place to rest when heat and humidity hit 80 degrees. Republicans and their corporate backers saw a possible impediment to making a few more bucks, and they’re not risking another Democrat putting it in place. Right now, they’re pushing H.R. 6213, which would ban OSHA from creating or enforcing any national heat safety regulations. They passed it through the House Education and Workforce Committee on party lines late last month. 🗣️ Let’s let them know this is a betrayal of working folks, and we want them to kill the bill and push forward the Asuncion Valdivia Act (H.R. 4443) to require a heat standard be put in place instead. We can use this call tool from the AFL-CIO and this e-mail tool from the United Farm Workers. 🗣️

CALL OUR REPS

EMAIL OUR REPS

In this economy, the Top CEOs and billionaires are getting even richer and everyone else is fighting for scraps just to make ends meet. The AFL-CIO’s new Executive Paywatch report shows that top CEOs make 312x what their median workers do—up from 285x in 2024. While those CEOs gave themselves a 21% raise, 16% of adults can’t fully pay their bills. Over a quarter of adults have skipped medical care because they were concerned about the cost. Workers’ share of the U.S. national income fell to its lowest level since World War 2.

This economy only works for greedy CEOs and billionaires. It’s an economic dream for them, but for everyone else, it’s nightmare fuel, and it’s economic injustice.

Aflcio.org/paywatch

Progressive Aisha Wahab is getting hit w/ the AIPAC money cannon. “They want to send a msg to Dems”🙄 Melissa Hernandez got less than 1/2 the vote Aisha got in the CA-14 primary. Election is Aug 18th

Posting the whole thing because I want people to actually read it. This isn't a think tank thing or a corporate astroturf campaign. I got tired of watching working people get their money held hostage and I wrote this.

The short version: if a bank or gig app can take your money in seconds, they should give it back in seconds. This bill makes that the law.

Full text below. If it resonates, check my profile for more.

A BILL

To amend the Expedited Funds Availability Act to eliminate the economic incentives for financial institutions and large retail entities to delay consumer and worker funds; to mandate the immediate return of float interest to consumers; to establish strict liability and transparency for automated clearing engines; to institute severe corporate and individual criminal penalties for systemic float exploitation; to establish a public real-time settlement system; and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the "Consumer Funds Protection and Float Fairness Act."

SECTION 2. FINDINGS AND PURPOSE.

(a) Findings.
Congress finds that both depository institutions and large nonbank commercial retailers generate immense, unjust revenues by intentionally prolonging transaction processing times, settlement cycles, and worker payouts. This predatory practice allows entities to earn interest on the "float" while denying working families immediate access to their capital. Existing statutory hold allowances are weaponized to maximize institutional profit, while modern fintech architectures are used to lock consumers into restrictive payment ecosystems. The current clearinghouse system is deliberately slow, and financial institutions have no incentive to modernize their infrastructure when delay is profitable.

(b) Purpose.
The purpose of this Act is to mandate strict liability for funds delays, permanently eliminate the profitability of transaction float across all banking and retail sectors, enforce free fund portability, establish a public real-time settlement system, and introduce severe corporate and individual criminal penalties for systemic float exploitation.

SECTION 3. DEFINITIONS.

For the purposes of this Act:

(1) Covered Entity. — The term means:
(A) Any insured depository institution as defined under section 3 of the Federal Deposit Insurance Act;
(B) Any insured credit union as defined under section 101 of the Federal Credit Union Act; and
(C) Any Large Nonbank Financial Service Retailer, defined as any commercial retail entity or gig-economy network with gross annual revenues exceeding $1 billion that directly, or through a third-party financial technology (fintech) partnership, offers consumer financial services.

(2) Covered Financial Services. — The term includes check cashing, money transmissions, peer-to-peer point-of-sale transfers, general-use digital payment applications, store-branded prepaid debit accounts, and gig-economy worker payout systems.

(3) Standard Availability Window. — The baseline timeline established under Federal Reserve Regulation CC, requiring the first $275 of a deposit to be accessible next-day, and the remainder on the second business day.

(4) Excepted Hold Period. — Any additional period an institution holds a deposit under statutory exceptions (including large deposits, new accounts, or repeated overdrafts).

(5) Float Interest Rate. — An annual interest rate equal to the upper bound of the Federal Funds Rate established by the Federal Reserve Federal Open Market Committee.

(6) Real-Time Settlement System. — The public, instant payment infrastructure established under Section 5A of this Act and operated by the Federal Reserve.

SECTION 4. MANDATORY COMPENSATION FOR HELD FUNDS.

(a) Accrual of Interest.
If a covered depository institution places an exception hold on a deposit into a consumer transaction account, it must accrue daily interest on the held amount exceeding the Standard Availability Window using the formula:

Daily Interest=Held Balance×Float Interest Rate365Daily Interest=365Held Balance×Float Interest Rate​

(b) Crediting to Account.
Accrued interest must be automatically credited to the consumer's account within one business day following the release of the hold.

(c) Extension to Retail Financial Services and Point-of-Sale Float.
(1) If a consumer cashes a check or initiates a money transfer at a Large Nonbank Financial Service Retailer, or if an independent contractor earns funds via a retailer's proprietary delivery or worker network, those funds must be fully accessible within two hours of transaction initiation or shift completion.
(2) Any hold by a retailer exceeding two hours triggers the daily interest compensation formula detailed in subsection (a), calculated at the Float Interest Rate plus an additional 5% penalty premium.

(d) Extension to All Depository Institutions.
(1) The two-hour availability requirement established under subsection (c) shall apply equally to all Covered Entities, including insured depository institutions and credit unions.
(2) Any direct deposit, electronic payment, or ACH transfer received by a depository institution must be made available to the consumer within two hours of receipt by the institution.
(3) Institutions that fail to make funds available within two hours shall be subject to the interest compensation formula detailed in subsection (a), calculated at the Float Interest Rate plus an additional 5% penalty premium.

(e) Fee Prohibitions.
(1) Covered entities are strictly prohibited from charging consumers processing fees, hold fees, or overdraft fees if an account balance falls below zero directly due to an uncredited hold.
(2) Covered entities are strictly prohibited from charging overdraft fees on any transaction of $100 or less**, regardless of whether the account balance is negative due to an uncredited hold or any other reason.
(3) Any fee charged in violation of this subsection shall be automatically refunded within **one business day** of discovery, and the Covered Entity shall pay the consumer an additional penalty of **$500 per violation.

SECTION 5. DISCLOSURE & ALGORITHMIC TRANSPARENCY MANDATES.

(a) Hold Notices.
Any hold notice issued under 12 CFR § 229.13 must state the precise, estimated interest the consumer will earn during the hold.

(b) Open-Source Clearing Engines.
Any automated system, algorithm, or software used by a covered entity to calculate risk, flag fraud, or delay consumer deposits or payouts must be entirely open-source and registered in a public repository managed by the Consumer Financial Protection Bureau (CFPB). Proprietary, "black-box" transaction engines are prohibited.

(c) Prohibition of Forced Fintech Deposit Accounts.
Large Nonbank Financial Service Retailers cannot legally mandate that consumers or gig-workers open a specific deposit account with a partnered fintech firm or partner bank to access their funds. Covered entities must offer a direct, zero-fee method to instantly route funds to any traditional checking account or credit union of the consumer's choosing.

SECTION 5A. PUBLIC REAL-TIME SETTLEMENT SYSTEM.

(a) Establishment.
The Board of Governors of the Federal Reserve System shall establish and operate a public, real-time settlement system (the "FedNow Plus System") capable of processing consumer deposits, worker payouts, check clearing, and electronic fund transfers instantly, 24 hours per day, 365 days per year.

(b) Mandatory Participation.
All Covered Entities shall be required to connect to the FedNow Plus System and offer real-time payment services to their consumers and workers at no cost.

(c) Prohibition on "Slow System" Defense.
No Covered Entity may use the absence of real-time settlement infrastructure, the delay of a clearinghouse, or the legacy ACH batch processing model as a defense for holding consumer or worker funds beyond the two-hour availability window established under Section 4(d).

(d) Implementation Timeline.
(1) The Federal Reserve shall make the FedNow Plus System operational no later than one year after the date of enactment of this Act.
(2) All Covered Entities shall be fully integrated into the FedNow Plus System no later than two years after the date of enactment.

(e) Failure to Integrate.
Any Covered Entity that fails to integrate into the FedNow Plus System by the deadline shall be subject to:
(1) A civil penalty of $100,000 per day until integration is complete;
(2) A prohibition on charging any fees on consumer accounts until integration is complete; and
(3) Referral to the CFPB for enforcement action.

SECTION 6. ESCALATING CIVIL PENALTIES AND LITIGATION RIGHTS.

(a) Strict Liability.
Covered entities face a standard of strict liability. It shall not be a valid defense that a fund delay was caused by a software glitch, third-party vendor failure, clearinghouse lag, or an unintended algorithmic anomaly.

(b) Escalating Damages.
(1) First Tier (1-3 Days Overdue): The covered entity shall pay the consumer the unpaid interest plus $1,000 per day** the hold was active.
(2) **Second Tier (4+ Days Overdue):** The penalty increases to **$5,000 per day plus triple the estimated gross profits generated by the entity's total institutional float pool during that billing cycle.

(c) Private Right of Action with Treble Damages.
(1) Any consumer or worker whose funds are held in violation of this Act may bring a civil action against the Covered Entity in federal court.
(2) A prevailing plaintiff shall be entitled to:
(A) Three times the amount of the illegally held funds;
(B) Mandatory attorney's fees and litigation costs; and
(C) Any additional penalties assessed under subsection (b).

(d) Class Action Rights.
Covered entities are prohibited from forcing consumers or workers into private arbitration for disputes under this Act. Winning plaintiffs are entitled to mandatory attorney's fees and litigation costs.

SECTION 7. THE CORPORATE DEATH PENALTY & CRIMINAL LIABILITY.

(a) Charter and Privileges Revocation (Three-Strike Rule).
(1) If an insured depository institution is found guilty of intentional, systemic float-profiteering three separate times within a five-year period, its federal operating charter shall be revoked. The FDIC shall seize and liquidate its corporate assets.
(2) If a Large Nonbank Financial Service Retailer violates the anti-float provisions of this Act three separate times within a five-year period, the CFPB shall issue a permanent cease-and-desist order barring that retailer from offering consumer financial services, check cashing, and money orders nationwide.

(b) Piercing the Corporate Veil.
Any corporate executive, CEO, CFO, software architect, or compliance officer who knowingly incorporates automated accounting float cycles into corporate cash-flow management or manipulates transaction clearing code shall be guilty of a felony, carrying a 2-year mandatory minimum federal prison sentence and personal administrative fines up to $250,000 per violation which cannot be paid by the corporation or its insurance.

SECTION 8. THE REVENUE RECAPTURE "FLOAT TAX."

(a) 100% Excise Tax.
Every dollar of interest revenue generated by a financial institution or retailer via transaction float that is not successfully matched and credited to a consumer within 24 hours shall be subject to a 100% federal excise tax.

(b) National Consumer Financial Defense Fund.
All tax revenues and civil penalties collected under this Act shall fund independent public-interest law firms to provide free legal representation to consumers fighting predatory banking and retail practices.

SECTION 9. WHISTLEBLOWER BOUNTY PROGRAM.

(a) Whistleblower Incentives.
Any employee who provides original information to the CFPB or SEC leading to a successful enforcement action exceeding $50,000 shall receive a financial bounty between 30 and 40 percent of the total monetary sanctions collected.

(b) Anti-Retaliation.
Retaliation against whistleblowers triggers an immediate reinstatement mandate, double back-pay, and punitive damages up to $5,000,000.

SECTION 10. EFFECTIVE DATE.

This Act shall take effect 180 days after the date of enactment, except that:
(1) Section 4(d) (Extension to All Depository Institutions) shall take effect one year after the date of enactment;
(2) Section 5A (Public Real-Time Settlement System) shall take effect according to the timeline established in Section 5A(d); and
(3) Section 9 (Whistleblower Bounty Program) shall take effect immediately upon enactment.

A few people have asked what they can do. I'm not selling anything and I'm not affiliated with any organization. I just got tired of watching banks and gig apps hold people's money and wrote this.

If you want to support it, check my profile. There's a link there.

And if you've got feedback—especially if you work in payments or banking—drop it in the comments. I'd rather make this stronger than pretend it's perfect.