1. United States
2. Pa.
3. Letter

Allowing banks to charge uncapped overdraft fees is nothing more than a means for profiteering at the expense of consumers, especially those in low-income households. These excessive fees provide no tangible service or benefit, yet can destabilize families' finances and make it even harder for them to make ends meet. Removing the $5 cap on overdraft charges would give banks free rein to gouge customers indiscriminately. This resolution must be opposed as it prioritizes the desires of major banking institutions over the wellbeing of the American people. Unchecked overdraft fees are a regressive tax on the most vulnerable, lining corporate pockets without justification. We cannot allow a return to these predatory and exploitative practices which have drained billions from consumers over the years.