Consumer Justice Lawyer
The Law Offices of Angelo Marino, Jr. P.A.
Please sent this email to your elected official.
More Reform is Needed to Fix Overdraft Loans
The Federal Reserve Board's new rules require banks to get your permission before they charge you an overdraft fee. This is a great step in the right direction to protect consumers from sneaky overdraft loans. But more is needed, and Congress is hotly debating overdraft reform right now. Make sure they hear your opinion on this important issue! Overdraft loans cost taxpayers about $24 billion in 2008, and hit low-income consumers particularly hard. Help keep this money in consumer pocketbooks by contacting Congress below. Here is a sample letter. Cut and paste this onto your email and send to your elected official in Washington. You can find your official’s email address by going to: http://webslingerz.som/jhoffman/congress-email.html
Dear
Please support S. 1799 or H.R. 3904 to reform overdraft lending. Even with the Federal Reserve Board's new rules, banks and credit unions can charge overdraft fees which are unreasonably expensive and unfair.
In 2008, these loans drained about $24 billion from taxpayers! Especially during these hard economic times, we should keep this money in consumer pocketbooks.
Banks should not use overdraft fees as a profit source. S. 1799 and H.R. 3904 would still allow banks to enroll consumers in overdraft programs if the consumer consents. And they allow banks to charge reasonable fees proportionate to the costs of the transaction.
Very truly yours,
