1. United States
2. Ga.
3. Letter

The Consumer Financial Protection Bureau (CFPB) recently proposed a rule to rein in excessive overdraft fees charged by banks. These punitive fees disproportionately impact low-income and minority communities, compounding financial hardship. The new rule would provide vital consumer protections by requiring banks to gain affirmative consent before enrolling customers in overdraft coverage for debit card and ATM transactions. Overdraft fees drain billions from the most vulnerable Americans each year. Maintaining this common-sense regulation is crucial to promoting fairness and financial inclusion in the banking system. I urge you to support the CFPB's overdraft fee rule and put the interests of your constituents over those of the big banks.