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With the House set to vote this week on an ICBA-advocated resolution to overturn the Consumer Financial Protection Bureau’s overdraft rule, ICBA is calling on community bankers to continue urging their lawmakers to vote in favor of the measure.
Latest ICBA Letter: In a letter to House members on Monday, ICBA noted the CFPB’s rule to cap overdraft fees would harm consumers by causing them to experience the harsh realities of rejected payments and continued its call for lawmakers to support the resolution.
House Grassroots Outreach: Community bankers can continue using ICBA’s Be Heard grassroots action center to urge their representatives to support the congressional resolution before the House vote this week.
Background: The ICBA-supported resolution (S.J. Res 18) passed the Senate last week on a 52-48 vote. If fully passed by Congress and signed into law by President Donald Trump, the resolution would invalidate the CFPB’s rule to cap fees at financial institutions with more than $10 billion in assets and preclude the agency from issuing a substantially similar rule in the future.