AG James and a coalition of 22 other attorneys general sent a letter to the leadership of the U.S. House of Representatives and the House Financial Services Committee urging the House to vote against a resolution that would overturn the Consumer Financial Protection Bureau’s (CFPB) 2024 rule limiting overdraft fees imposed by the country’s largest banks. The rule prevents big banks from charging excessive overdraft fees that can hurt their customers’ credit and sometimes lead to account closures.

“Overturning this rule will only do one thing: help big banks profit at your expense. Accidentally overdrawing your checking account by a few dollars shouldn’t result in an outrageous fee. The CFPB took action to protect consumers from outrageous overdraft fees, and Congress should do the same. At a time when working families are struggling to make ends meet, our leaders should be protecting Americans’ wallets, not empowering big banks to charge junk fees.” – AG James