1. United States
2. Pa.
3. Letter

I urge you to SUPPORT consumers and working people and VOTE NO on repealing the CFPB cap on overdraft charges. To be clear, PLEASE do NOT side with BANKS who are padding their profits at our expense. Senate Republicans should be EMBARRASSED for supporting this repeal of a policy that was set to go into effect this year to help working families and low income people pay less in bank charges. This is CLEARLY something BANKS WANT BUT hurts us the consumers. My family has hit some rough patches with work slowdowns and we have big credit card debts with interest rates that are borderline criminal as it is. We do NOY need to give banks any more help to profit of us. But don’t take it to me - Chuck Bell from Consumer Reports says: “The CFPB’s rule imposes reasonable limits that protect consumers from unfair fees while enabling banks to cover their costs. Repealing the CFPB’s overdraft fee limits will hurt working families who are already struggling with high prices and inflation.” Large banks typically charge $35 for an overdraft today, even though the majority of consumers’ debit overdrafts are for less than $26 and are repaid in three days, which translates into an annual percentage rate (APR) of over 16,000 percent, according to the CFPB. Hopefully you will do the right thing. Thank you.