1. United States
2. Texas
3. Letter

As public servants, elected representatives have a responsibility to prioritize the wellbeing of all citizens over corporate interests. The recent vote to repeal the CFPB's overdraft fee rule demonstrates a concerning disregard for the financial struggles faced by many hardworking Americans. Excessive overdraft fees disproportionately burden those living paycheck to paycheck, exacerbating cycles of debt and poverty. Protecting consumers from predatory practices should be a paramount concern, not enabling large financial institutions to generate billions in profits through exploitative fees. This resolution undermines efforts to create a more equitable financial system that serves the needs of the people, rather than enriching corporations at their expense. The CFPB's proposed rule aimed to close an outdated regulatory loophole and provide reasonable limits on overdraft charges. Overturning these modest protections suggests a prioritization of bank profits over the economic security of constituents. As representatives of the people, your duty lies in safeguarding their interests above those of powerful financial lobbies. I urge you to reconsider this misguided decision and reinstate the CFPB's overdraft fee rule. Reasonable reforms that shield vulnerable communities from predatory practices should be welcomed, not obstructed at the behest of big banks. The people deserve better from their elected leaders.