FOR IMMEDIATE RELEASE: Feb. 5, 2025
NACA Urges House Committee’s Support of CFPB Overdraft Lending Rule
The National Association of Consumer Advocates (NACA) submitted a letter to the House Financial Services Committee for the hearing today titled “Make Community Banking Great Again.” The letter responds to an apparent discussion draft, “H.J.Res.__ a resolution of disapproval on CFPB’s overdraft rule,” referenced in the committee hearing memorandum. NACA urges support of the CFPB’s rule on overdraft fees for very large financial institutions and rejection of any proposal that would overturn it.
Statement of Christine Hines, senior policy director at the National Association of Consumer Advocates
“The CFPB’s rule to limit the largest banks from burdening their customers with excessive overdraft fees is beneficial to everyday people as well as to financial institutions who don’t engage in such exploitative practices,” said Christine Hines, senior policy director at National Association of Consumer Advocates. “Members of Congress looking out for the best interests of their constituents–individuals and businesses–logically would reject any attempt to overturn the bureau’s reasonable overdraft policy.”
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