Illinois AG Calls On Banks To Eliminate Overdraft Fees
April 7, 2022 10:45AM CDT
Illinois Attorney General Kwame Raoul is calling on JPMorgan Chase, Bank of America, U.S. Bank, and Wells Fargo to eliminate all overdraft fees on consumer bank accounts. Raoul and a coalition of attorneys generals sent letters to each financial institution urging them to eliminate overdraft fees by this summer to create a fairer and more inclusive consumer financial system. The group says overdraft fees have had harmful effects on millions of consumers nationwide, especially people of color and vulnerable families.