Big banks have exploited overdraft fees for years, using them to rake in billions of dollars annually. These fees—sometimes as high as $39 per transaction—have forced millions of people into financial instability and even into losing their checking accounts.

But now, the Consumer Financial Protection Bureau (CFPB) has finalized a groundbreaking rule that caps these fees down to $5 per transaction, bringing much-needed relief to families across the country.

This reform will save consumers at least $5 billion every year ($225 per household that pays overdraft fees) and protect communities that have been disproportionately targeted by predatory banking practices.

Yet Wall Street is fighting back. Banks and their lobbyists are pressuring Congress to dismantle this rule before it can take full effect. If they succeed, the protections you and your family need could disappear.

The banks want to keep their overdraft fee windfall. They’re spending gobs of money to pressure lawmakers and regulators into weakening these rules. We can’t let that happen. These rules are critical because it means:

• $5 billion back into the pockets of consumers every year: This rule directly reduces the financial burden on families.

• Protections for underserved communities: Black, Latine, and low-income families are often targeted by these fees.

• A fairer financial system: Banks must treat overdrafts like the short-term loans they are, ensuring transparency and accountability.

By acting today, you can help keep these protections in place so they can continue to provide critical financial relief to consumers and their families.

Take action now. Tell Congress to defend the CFPB’s overdraft fee rule and reject Wall Street’s attack on consumer protections.