Pressure Mounting to End Abusive Overdraft Fees

Rep. Maloney Introduces Overdraft Protection Act

With Capital One announcing an end to overdraft fees and consumer groups putting pressure on other banks and the Consumer Financial Protection Bureau (CFPB) to take action to end the practice, pressure is mounting for major changes in a key source of bank revenue.

Now, Rep. Carolyn Maloney of New York has introduced the Overdraft Protection Act to protect consumers from the most abusive of overdraft fee practices.