John,

A recent study by the federal Consumer Financial Protection Bureau (CFPB) showed how big banks have become reliant on ever-increasing fees, extracting profits from people simply trying to access their own money.

The CFPB is cracking down on these junk fees―but big banks are going to fight back. They’re going to spend millions on lobbyists, hoping to introduce loopholes and weaken punishment for violations. It’s going to take all of our voices to overcome this.

Right now, the CFPB is holding a public comment period, which they will weigh against statements from the big banks while writing their anti-junk fee rules.

We’ve made it easy to submit a simple statement, as easily as you would sign a petition! Click here to take action!

Seniors on a fixed income can be particularly vulnerable to these fees. Because Social Security is a reliable depositor, banks know when the next payment is coming. But rather than providing grace when a utility charge hits a senior’s account while the bank is processing their Social Security deposit, big banks opportunistically charge hundreds of dollars in overdraft fees. It’s outrageous―but it results in more than $1 billion per month in fees, straight into the banks’ pockets.

It’s time to stop the financial exploitation of seniors and other communities that live paycheck-to-paycheck. Let’s demand an end to junk fees!

Take one minute to send a message directly to the CFPB and fight back against big bank fees stealing our money!

Thanks,

Alex Lawson
Social Security Works