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Senator Casey Supports Rule to Cut Overdraft Fees, Aid Families

U.S. Senator Bob Casey (D-PA) expressed support for the Consumer Financial Protection Bureau (CFPB)’s proposed rule aimed at reducing excessive overdraft fees charged by large corporate banks. He highlighted the financial strain these fees place on American families and urged the CFPB to implement the rule quickly.

Since November 2023, Casey has investigated corporate practices that burden families financially and inflate costs. The proposed CFPB rule, announced in February 2024, seeks to limit overdraft fees, potentially saving consumers $3.5 billion annually. Casey’s report from January 2024 criticizes hidden fees in various services, advocating for transparency and fair charges.

Overdraft fees, often unexpected by consumers, can lead to significant profits for banks. In 2022, consumers paid $9 billion in overdraft fees, with CFPB actions against banks like Wells Fargo for unfair fee practices. Casey calls for consumer protection against deceptive fee practices and supports the CFPB’s efforts to ensure clear fee disclosures and reasonable overdraft charges.

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Pamela K Coyle 1949-2024

Pam received her Master’s degree in library science from Clarion University in 1978. She never lost her love of reading or her enthusiasm for libraries.

Daily Forecast, April 21, 2024

Franklin County Forecast: In the forecast for today, we are expecting overcast clouds, with a high of 52.23°F and a low of 35.2°F. The humidity

Candie Sue Diffenderfer 1963-2024

Candie worked in the Prothonotary’s office at the Fulton County Courthouse, and later at Irving Accounting and U.S.A. Cartage in Williamsport, MD.

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