Despite more than a dozen major banks recently reducing or outright eliminating overdraft fees, Democratic lawmakers continue to push for legislation that would curb the practice on a national level.
On Tuesday, Rep. Carolyn Maloney (D-NY) and Senators Cory Booker (D-NJ) and Elizabeth Warren (D-MA) renewed their push to restrict overdraft fees through federal legislation. The bills aim to eliminate non-sufficient funds (NSF) fees and limit the number of overdraft fees levied—as well as stipulate that these charges need to be “reasonable.”
