1. United States
2. S.C.
3. Letter

The proposed effort to overturn the Biden-era rule capping bank overdraft fees risks harming average Americans, especially those with limited financial resources. Excessive overdraft fees disproportionately burden low-income individuals and create barriers to accessing traditional banking services. While some argue that fee caps could lead to unintended consequences like reduced services or higher fees in other areas, protecting vulnerable consumers from exorbitant charges that strip away their financial security should be the priority. I urge you to consider the potential detrimental impact on working families and reject attempts to undo this essential consumer protection measure. Ensuring fair and affordable access to banking is crucial for promoting financial inclusion and economic mobility.