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: ‘Everyone is talking about inflation, this is a way to combat it’: Lawmakers urge banks to play a part helping cash-strapped consumers

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With inflation now running at a 41-year high, Democratic lawmakers say cracking down on bank overdraft fees is one way to help struggling consumers.

“Everyone is talking about inflation, this is a way to combat it, this is a way to combat it, to keep dollars in the pockets of consumers,” U.S. Rep. Carolyn B. Maloney said on Tuesday, promoting a bill she introduced a year ago that’s meant to keep banks from engaging in “deceptive acts” related to overdraft fees, according to a summary of the bill.

Sen….

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