Newaygo County Public Opinion

Calling Your Congressman

3/31/2025

House poised to cancel planned limits on overdraft fees

Last week U.S. Representative John Moolenaar held a Town Meeting via zoom fielding questions from constituents.
Here are a couple of items that didn't come up during the meeting. Perhaps voters may want to call his office if these are of concern.
Phone: (202) 225-3561.

The Consumer Financial Protection Bureau (CFPB) finalized a rule in December that would limit overdraft charges at large banks and credit unions, a move that federal officials said could help save Americans billions in fees each year. The banking industry, of course, opposed it.
The Senate voted last Thursday to strike down the rule that would cap most bank overdraft fees at $5. The vote went 52-48 along party lines with one Republican Senator voting against it. It will now move to the House.
Senator Tim Scott was quoted as saying, ”Overturning the Biden CFPB’s overdraft fee structure is good for consumers.”
Senator Scott, the chairman of the Senate Banking Committee, did not elaborate as to how taking the limit off overdraft fees would be helpful to consumers who pay them.

Cuts at the USDA have stalled or cancelled 600,000 pounds of food going to Feeding America of West Michigan. The Emergency Food Assistance Program is on pause amid a federal review, and it’s unclear whether the canceled food shipments will be restored, according to media reports.
FAWM is a large distributor of food to those in need in Newaygo County with deliveries at the White Cloud United Methodist Church on the 4th Tuesday of each month.

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Michelle Petz

4/2/2025 05:44:25 am

The Consumer Financial Protection Bureau’s (CFPB) rule to limit excessive overdraft fees burden working families. Overdraft fees disproportionately impact those living paycheck to paycheck, and capping them at $5 is a step toward financial fairness. Overturning this rule does not help consumers, it helps banks maximize profits at the expense of struggling Americans.
Additionally, cuts to the USDA’s Emergency Food Assistance Program have put 600,000 pounds of food in limbo, affecting Feeding America of West Michigan and local food distributions in Newaygo County. These cuts will harm our most vulnerable neighbors, families, seniors, and children who rely on these essential food programs.
Instead of siding with big banks and cutting essential food aid, our leaders should focus on policies that support financial stability and food security for all Americans. We deserve answers from our congressional representative on why he chooses to protect big banks and allow the dismantling of USDA food assistance programs rather than standing with constituents who rely on these essential services.

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