Act Now: Stop Congress from increasing overdraft fees and letting Big Tech steal your data

 

The House of Representatives will vote this week on two resolutions to claw back hard-fought progress from the past four years: H.J. Res. 59 would completely *eliminate* a popular Biden-era rule that lowered outrageous overdraft fees. Overdraft fees target low-income people. Prior to this rule, which Public Citizen fought for, banks often charged around $35 when someone fell a few dollars short buying groceries or paying bills. The new rule would cap overdraft fees from the Big Banks at $5 instead — but some members of Congress want to undo this change! H. J. Res. 64 would scrap another important rule that provided much-needed oversight for Big Tech companies that want to offer payment services on their platforms. Right now, financial regulators monitor traditional banks to prevent fraud; stop unfair, deceptive, or abusive acts; and safeguard sensitive personal information. This rule says that if the Big Tech companies (Twitter/X, for example) want to offer payment services like banks, then they should be regulated like banks. But some members of Congress want to reverse the rule — which would leave customers vulnerable! These rules were put in place to prevent Big Tech and the Big Banks from exploiting consumers. All members of Congress, regardless of their politics, should help their constituents by preserving these popular consumer protections. Send a message to your representative. Tell them: Americans deserve protection from punishingly large overdraft fees and from Big Tech companies that want to deceive us or steal our personal data. Please stand with the American people and oppose H.J. Res. 59 and H. J. Res. 64. Thanks for taking action, George Public Citizen

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