1. United States
2. Ky.
3. Letter

The proposed rule on overdraft lending by very large financial institutions is an attempt to roll back important consumer protections. It would allow banks to continue exploiting vulnerable customers through excessive overdraft fees that disproportionately harm low-income individuals. This rule favors corporate profits over the wellbeing of ordinary Americans. Overdraft fees too often push people into debt spirals from which it is difficult to recover. We must maintain strong oversight of predatory lending practices by major banks. Repealing this rule would be a disservice to the public interest. I urge opposition to this misguided effort that undermines financial reform and consumer safeguards. Protecting everyday people from abusive fees should be the priority, not increasing revenues for massive financial institutions at the expense of struggling families and individuals.