It’s been clear for years that the business model of major Wall Street banks is predatory.
Underscoring this is a recent study published by the Consumer Financial Protection Bureau (CFPB) that showed that banks charge almost $15 billion in just overdraft and non-sufficient funds fees alone.
The only way to contain Wall Street's excesses is with big, bold reforms that they can't water down.
Instead of allowing banks and other investment interests to continue their exploitation, we need the CFPB to take action to protect Americans.
That’s why this public comment period is a huge deal.
Right now, banks are allowed to take advantage of numerous junk fees and reap the profits -- all while regular Americans get trapped in a horrible financial situation.
We must act now to put an end to these vicious fees.