- United States
- Ohio
- Letter
I strongly urge you to prioritize the needs of your constituents over the profits of large banks and vote NO on overturning the Consumer Financial Protection Bureau’s (CFPB) new rule that limits overdraft fees.
With Americans already struggling due to rising costs – including higher rent, grocery prices, gas, and medical bills – now is the worst time to remove protections against excessive overdraft fees. Families are already stretched thin and doing their best to make ends meet. The last thing they need is another financial burden that takes advantage of their hardship.
These fees have been used in a predatory way, disproportionately affecting Black, Latino, and low-income communities, making it even harder for people to escape financial instability. The CFPB's rule puts $5 billion back into the hands of hardworking families instead of Wall Street executives. Repealing it would only serve to protect big banks’ ability to profit off the financial struggles of everyday Americans.
I urge you to reject any efforts to repeal these important protections and oppose any legislation that increases overdraft fees. Instead of giving more to Wall Street, Congress should focus on policies that support working families in achieving financial stability. Stand with your constituents – vote NO.