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Sen. Brown Introduces Overdraft Fee Crackdown Bill

Ideastream Public Media | By Mitch Felan
Published August 15, 2018 at 7:47 PM EDT
The bill has recieved support from the NAACP, the Center for Responsible Lending and the Consumer Federation of America.
M.L. SCHULTZE
/
WKSU public radio
The bill has recieved support from the NAACP, the Center for Responsible Lending and the Consumer Federation of America.

Sen. Sherrod Brown is fighting back against what he believes are unethical overdraft fees.

Brown teamed up with fellow Democratic Sen. Cory Booker of New Jersey to introduce the bill called the Stop Overdraft Profiteering Act of 2018, which Brown said would crack down on certain fees that mostly affect low-income Americans.

“The bill requires banks to process transactions in a way that minimizes overdraft fees, requires those fees to be reasonable (and) limits the number of fees that could be charged. It would ban overdraft fees on debit card transactions and ATM withdrawals altogether,” Brown said.

Groups including the National Association for the Advancement of Colored People, theCenter for Responsible Lending, and the Consumer Federation of America have endorsed the bill.

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Mitch Felan
Mitch Felan is a news intern for WKSU. He is a multimedia journalist with experience in print, television, radio and visual journalism. Felan is a junior at Kent State University, working towards a Bachelor's Degree in Multimedia Journalism. During the school year, Felan works for Kent State Student Media in TV2, The Kent Stater, and KentWired. He will be serving as the Digital Director for Kent State University's Student Media Newsroom in the Fall.
See stories by Mitch Felan