Rhode Island Democrat David Cicilline is fighting back against a controversial program launched by numerous banks across the country, calling for legislation prohibiting fees on debt cards.
“I was appalled when I first read the recent announcement that several of the big banks are going to start charging fees, as much as $5 a month, for customers to use their debit cards,” Mr. Cicilline wrote Wednesday in the Huffington Post. “Since consumers regularly use their debit cards for everyday expenses like buying groceries and filling the gas tank, this is just one more opportunity for the big banks to dig into the pockets of the middle class at a time when most people can least afford it.”
The Rhode Island Democrat said recently announced debt card fees are “infuriating,” adding that the move was simply an attempt by banks to “gouge working families to enrich shareholders.”
“I introduced H.R. 3190, legislation to stop this outrageous practice, by simply making it illegal for banks to charge customers a fee for using their debit card,” wrote Mr. Cicilline.
The Rhode Island Democrat is the latest member of Congress to offer their take on the issue. Illinois U.S. Senator Dick Durbin, who sponsored an amendment aimed at reducing the rate paid by merchants, slammed Bank of America earlier this month, saying the debt card fee was “unfair.”
“It seems that old habits die hard for Bank of America. After years of raking in excess profits off an unfair and anti-competitive interchange system, Bank of America is trying to find new ways to pad their profits by sticking it to its customers,” the Illinois Democrat said in a statement.
