House Votes to Bring Back $35 Overdraft Fees — Because Who Needs Poor People Anyway?

House Votes to Bring Back $35 Overdraft Fees — Because Who Needs Poor People Anyway?

You’ll never guess what the House of Representatives just did again.

No really, take a wild guess.

Because at this point, there are so many ways they’ve screwed over young people, poor people, or anyone who’s made a single financial mistake — it’s basically a full-time job.

This time? They voted to eliminate the cap on overdraft fees.

Yes, the cap that hadn’t even taken effect yet — the one set by the Consumer Finance Protection Bureau to limit fees to $5 per transaction.

That’s gone now. Say hello again to those $35 overdraft hits.

For anyone who's ever been young, broke, or breathing, you probably know this story:

You write a check.

The company delays cashing it.

You forget about it.

You grab a coffee, fill your tank, hit the dollar menu.

Boom: that check clears and now you're $140 in overdraft fees for four tiny transactions.

And that’s not a bug. That’s the feature.

In 2015 alone, big banks made $11–12 billion in overdraft fees — just from banks with over a billion in assets.

That’s billions sucked directly out of poor people's pockets to pad the wealthiest institutions in the country.

So when you hear Republicans talk about "freedom" and "financial responsibility," just remember they mean freedom for banks to rob you blind, and responsibility for you to suck it up and pay them for it.

Because apparently, nothing says "economic recovery" like turning your checking account into a slot machine for JPMorgan Chase.