1. United States
2. Colo.
3. Letter

Banks should not be allowed to exploit customers by charging excessive overdraft fees that disproportionately burden low-income families. The Consumer Financial Protection Bureau's rule capping overdraft fees at $5 is a reasonable measure that allows banks to recoup their losses while protecting vulnerable customers from being gouged with fees as high as $35. Overriding this rule will only make big banks richer while making it harder for hardworking Americans to make ends meet. $400 in overdraft fees can be the difference between affording rent, medication, or groceries for many families. Rejecting this commonsense regulation prioritizes corporate profits over the wellbeing of ordinary people. I urge you to stand up for consumers and vote against dismantling the CFPB's overdraft fee cap.