ICBA is calling on community bankers to urge their members of Congress to support resolutions to stop the Consumer Financial Protection Bureau’s overdraft rule ahead of a markup today.
Background: Congressional resolutions (S.J.Res. 18 and H.J.Res. 59) set for consideration by the House Financial Services Committee today would overturn the overdraft rule.
ICBA View: In a letter to the committee ahead of today’s markup, ICBA said the overdraft rule exceeds the CFPB’s statutory authority and violates existing regulations that have determined overdrafts are not extensions of credit.
Taking Action: Community bankers can use ICBA’s Be Heard Grassroots Action Center to send custom messages to their lawmakers urging support for the overdraft resolutions.
