1. United States
2. La.
3. Letter

The proposed legislation to disapprove the Bureau of Consumer Financial Protection's rule on overdraft lending for very large financial institutions would have detrimental effects on paycheck-to-paycheck families. Overdraft fees can quickly accumulate, causing financial hardship for those living paycheck-to-paycheck. The rule aims to provide important consumer protections by prohibiting charging multiple overdraft fees on the same transaction and requiring banks to offer options to avoid overdraft fees. Rejecting this rule would leave vulnerable consumers susceptible to abusive overdraft practices and excessive fees from large banks. We must prioritize protecting working families over the profits of big financial institutions. I urge you to vote against this resolution and allow the overdraft lending rule to take effect in order to safeguard the financial well-being of paycheck-to-paycheck households.