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.

Contact Jared Weiser for questions or assistance.

Jared Weiser
Jared Weiser Director, Legislative Affairs E: jweiser@ohiocul.org
Contact Us

Other Movement News

Government Affairs

Election night success for credit unions; see how the midterms impact your credit union

Thanks to your generous support throughout the 2021-2022 elections, the Ohio Movement engaged with 122 decision-makers and invested more than $570,000 in state and federal legislative champions. Your partnership led […]
Regulatory

Year end snapshot: State and federal credit union priorities

Just like your credit union, the League is hard at work ensuring a successful year end and is focused on promoting and protecting credit union interests at the Statehouse and in Congress. Here are the League’s top issues as legislators wrap up their sessions: House Bill 116, the Ohio Computer Crimes Act, would close a legal loophole that bad actors can exploit to access sensitive data and information without penalty.
Member Benefits

Tips to keep your members safe this holiday season

Help your members stay financially safe during the holiday season by downloading helpful tips in December’s Monthly Marketing Toolkit, a complimentary resource as part of your League membership.