Notice

It’s just another sign about how little Republicans care about Americans.

Senate Overturns Rule Limiting Bank Overdraft Fees to $5

The Senate voted Thursday to strike down a rule capping most bank overdraft fees at $5, a measure adopted late last year by the Consumer Financial Protection Bureau that had been expected to save Americans billions of dollars per year.

The rule would have limited the fees banks and credit unions could charge when customers spend more than they have in their accounts, typically $35 per overdraft. The bureau estimated it would save American households $5 billion a year. It was immediately challenged in court by banking trade groups.

Democrats are preparing to fight the resolution in the House, where they hope the slim Republican majority will work in their favor.

Call your representatives in Congress. Let them know that this is not okay. Banks make enough profits. They don’t need more.