Democrats want JPMorgan to refund Covid-era overdraft fees — and scrap them forever
CNN
New York Democrats want JPMorgan Chase to return the overdraft fees the bank collected during the pandemic — and to scrap the hated charges altogether.
Despite the chaos set off by the pandemic, JPMorgan (JPM) collected nearly $1.5 billion in overdraft fees last year, more than any other lender, according to a letter signed by Reps. Carolyn Maloney, Kathleen Rice, Gregory Meeks and Tom Suozzi. "It is deeply troubling that financial institutions, including our nation's largest banks, profited off fees charged to those struggling the most as the Covid-19 economic crisis left many families in severe financial distress," the lawmakers wrote in a Wednesday letter to JPMorgan Chase CEO Jamie Dimon.More Related News