Letter to the editor: Favoring banks

To the editor:

It seems like a small thing. Or is it? Republicans in the House and Senate have introduced a resolution (H.J.Res. 59) to overturn a rule put in place by the Consumer Financial Protection Bureau. That rule put a cap of $5 on fees that banks can charge for overdrafts, down from the typical fee of $35. Not a lot of money, but for families living paycheck to paycheck, that cap is important. If the cap on overdraft fees goes away, banks such as Wells Fargo and J.P. Morgan Chase can take in about $1 billion a year from junk fees. Which is a clue as to why the Republicans introduced the resolution: taking care of big banks instead of their constituents. Remind Congressman Tracey Mann that he serves you, not big banks.

Camille Olcese,

Lawrence