Nearly 300 consumer, civil rights, labor, legal services and community organizations and academics wrote to oppose S.J. Res. 18 which would overturn the Consumer Financial Protection Bureau’s overdraft fee rule. This rule would reduce most overdraft fees from $35 to $5, stop manipulative practices by big banks, improve transparency, and put $5 billion back into the pockets of everyday people and their families. The public widely views current overdraft fee practices as unfair.
