1. United States
2. Wisc.
3. Letter

Repealing the $5 cap on overdraft fees would be detrimental to working Americans who are already struggling with high costs and inflation. The Consumer Financial Protection Bureau's reasonable limit on these fees protects consumers from unfair charges while still allowing banks to cover their operational expenses. Removing this safeguard will only serve to line the pockets of major financial institutions at the expense of ordinary people. We should prioritize policies that look out for the interests of individuals over corporate profits. I urge you to preserve the overdraft fee cap to prevent banks from exploiting vulnerable communities through excessive fees that disproportionately impact low-income households. Safeguarding consumer protections is critical for establishing a more equitable financial system.