Banking & Credit

93 Organizations Urge Congressional Committee to Support Overdraft Protection Bill

CFA joined 92 organizations urging the House Financial Services Committee to support the Overdraft Protection Act of 2021, introduced by Congresswoman Carolyn Maloney (NY). Overdraft-related fees cost consumers $15 billion each year and have had a particularly devastating impact on lower-income consumers and communities of color. The Overdraft Protection Act of 2021 would address the most abusive provisions of today’s typical overdraft coverage.