Author:   Amanda N. Jackson     Published: 2/2/2024    Americans For Reforms

Americans for Financial Reform


Biganks took $15 billion in overdraft fees from us… and that was just in 2019. This predatory and financially damaging practice harms low-income, Black, and brown families the most. These fees prey on our communities constantly. It’s a major reason why consumers of color are 4-5 times more likely to be unbanked than white consumers.[1]

But this practice does not have to remain in place.The Consumer Financial Protection Bureau has proposed a policy to limit overdraft fees. Often as high as $39, the proposal would have banks either cap — somewhere between $3 and $14 — or force them to disclose how truly outrageous these fees are. And since AFR has been involved on this issue for quite some time, we’re going to be full speed ahead on organizational and individual submissions on why this move is necessary.

Ronald, will you share your story of how overdraft fees have impacted you and your family? Submit your story now!

Your experience will help support the strongest action possible by the CFPB. Here are some questions to help get you started:

  • How have overdraft fees caused you financial uncertainty?
  • When you opened your first bank account, did you imagine your bank using fees to harm you?
  • Have you been surprised by overdraft fees?
  • Sometimes banks will move transactions around that purposely lead to more fees. Has that happened to you?
  • What would not having overdraft fees mean to you?
  • Did the bank lock or close your account until all the fees were paid back?
  • Have overdraft fees caused you to be late on bills or stopped you from being able to buy gas, groceries or more?

We welcome any and all experiences you can share with us.

Ronald, we’re asking you to share your story of how overdraft fees have impacted you and your family?


No story or moment of financial uncertainty is too small and all efforts support eliminating excessive fees a reality.

Thank you for sharing your story today.

– Amanda

Amanda N. Jackson (she/her)
Director of Consumer Campaigns
Americans for Financial Reform


[1] Overdraft fees can price people out of banking