House Dems Renew Push To Rein In Overdraft Fees

By Jon Hill (June 30, 2021, 4:10 PM EDT) -- A senior House Democrat is reviving her campaign to crack down on overdraft fees with legislation introduced on Wednesday that would impose limits on the size and frequency of such charges at financial institutions.

Flanked by consumer advocates, Rep. Carolyn Maloney, D-N.Y., unveiled the latest version of her Overdraft Protection Act at a Washington, D.C., press conference, saying the banking industry hasn't done a good enough job of reining in "manipulative and predatory" practices like reordering transactions to maximize overdraft fees.

"We already asked financial institutions to stop this on their own," Maloney said. "Some have thankfully done it, but not...

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