Overdraft bill pulled from committee agenda
Published by: Jared Weiser
June 29, 2022 | Political Action
During a committee markup last week, the U.S. House Committee on Financial Services was scheduled to consider H.R. 4277, the Overdraft Protection Act of 2021, which would severely restrict and limit access to critical overdraft protection programs through limited fee impositions and enhanced disclosure and reporting requirements. However, thanks to your advocacy efforts, the League system and CUNA efforts, the bill was pulled from the agenda.
We appreciate the committee members understanding that efforts to restrict and limit access to critical overdraft protection programs may inhibit credit unions from helping members overcome unexpected financial emergencies. The League will continue to oppose H.R. 4277 to mitigate any possible adverse consequences to consumers who rely upon their community-based credit unions to provide accessible and affordable products and services.
If you would like more information about federal legislative issues, please contact Legislative Affairs Director Jared Weiser.
