Inflation is rough, but these ‘junk’ fees make it worse!

[Consumer Reports]   Friend, With inflation eating up more of our money, the last thing we need is to pay more in ‘junk’ fees – especially to banks, credit cards, mortgage companies, and other financial entities. In 2019 alone, banks made $15 billion just from fees for overdrafts and non-sufficient funds, a huge chunk of money out of our pockets. But there’s momentum at the nation’s financial watchdog to crack down on these fees. And regulators want to hear from those of you who’ve been hit with fees – and how they impacted your financial life – in order to target excessive or unfair fees. We’ve set up a portal to send your comments directly into the Consumer Financial Protection Bureau. [Just answer a few quick questions about the fees you’ve been hit with,]( and we’ll compile it into a short comment, so financial regulators know about the fees banks and other financial institutions are charging.  [Send your comment](  These fees can be outrageous. For example, banks typically charge up to $36 per overdraft charge, fees that can snowball in a few days into an even bigger debt, collections, or a closed bank account. And consumer outrage over these types of excessive fees are having an impact. Some of the largest U.S. financial institutions recently reduced or eliminated certain fees, including Capital One, Bank of America, Wells Fargo, and U.S. Bank. Now, regulators are looking to take further action to save consumers billions of dollars in junk fees. The CFPB wants to hear about from consumers who’ve experienced fees associated with their bank, credit union, prepaid or credit card account, mortgage, loan, or payment transfers. [Your fee experience will help push the Consumer Financial Protection Bureau to crack down on junk financial fees.]( Just answer a few quick questions about the fees you’ve paid, and we will compile it and send it in.  [Send a message](  This is a great opportunity to hold the banks and other financial institutions accountable, so please share this with any friends and family so they can share their fee experience. Together, we can stop unfair and excessive banking fees! Thank you, Marcus JonesConsumer Reports [Unsubscribe from Consumer Reports action alerts.]( © 2022 Consumer Reports, 101 Truman Avenue, Yonkers, NY, 10703 [Contact Consumer Reports](