07/01/2023
FTC: "As families everywhere struggle to make ends meet, one thing that can make that effort exponentially harder is the threat of predatory bank fees.
From overdraft fees, to minimum balance fees, major financial institutions have been making billions off of the backs of their most impoverished account holders, all whilst refusing, or heavily limiting, lending opportunities to those same individuals.
As a Member of Congress, I would work to outlaw these fees and practices, as well as create minimum percentage lending, forcing financial institutions to offer guidance and accessible loan options to low income individuals in need of capital for businesses or critical debt (bills associated with medical, auto, home, et. al).
It's beyond time that the whole of the American People share in this country's opportunities."
https://www.businessinsider.com/how-predatory-banks-rake-billions-overdraft-fees-against-poorest-users-2021-12
