Demand to lower the limit on Bank Overdraft Fees

It's time to reign in banks on their excessive overdraft fees.

Overdraft Fees amount to a "poor tax". I've heard countless stories of people who overdraft by $5 and then found themselves saddled with over $100 in extra fees. It's greedy, it's wrong, and it should be illegal. This needs to stop.

A $5 overdraft that results in a $35 fee would amount to 700% interest!

I propose the cap should be $35 or the amount of the transaction, whichever is LESS.

For example: if you overdraft by $7.12, the fee cannot exceed $7.12. If you overdraft by $250, then the fee cannot exceed $35.

Please sign and show your support. We need our legislators to act and reign in this practice.

Update #14 years ago
Do you know anyone who is sick of being charged ridiculous overdraft fees? Please share this petition with as many people as you can to get the ball moving towards our goal of 15,000 signatures!
Thanks,
Mike
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