System partners push back against the CFPB’s overdraft proposal

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America’s Credit Unions, Cornerstone League, and credit unions nationwide are participating in a full grassroots push against the CFPB’s overdraft proposal. The push is to ensure the CFPB understands the consequences of this proposal and the harm it will cause to the consumers it aims to help. 
 
Cornerstone asks you to visit the Grassroots Action Center and use the form letter, enhanced with your perspective on why members choose to use these services, to raise awareness and bolster our advocacy efforts. Here are just a few talking points: 

• Programs such as overdraft protection are seen as a financial lifeline should things get tight for everyday Americans nationwide.  
• The CFPB’s overdraft proposal would take this lifeline option away from millions, forcing them into the hands of unregulated, predatory lenders.  
• CFPB’s overreach puts barriers between consumers and safe, affordable credit union services.  
• The credit union movement will always push back against bad policies and attacks on legitimate financial services that many Americans rely on to make ends meet. 

Time is of the essence. As policymakers consider misguided proposals and rules under the guise of consumer protection, we need our credit union leaders to help set the record straight. We hope you’ll join us in reaching out to the CFPB through the Grassroots Action Center at your earliest convenience.