Steil previously voted to keep credit card late fees high, protecting the credit card industry instead of supporting working families
Friday, June 14, 2024
KENOSHA, Wis. – Opportunity Wisconsin’s latest television ad highlights Congressman Bryan Steil’s vote in favor of keeping credit card fees high and asks him to start fighting for working families instead of protecting the credit card industry.
In April, Steil joined Republicans on the House Financial Services Committee in voting to approve H. J. Res. 122, which would repeal a Consumer Financial Protection Bureau (CFPB) rule capping credit card late fees at $8. The rule, if allowed to go into effect, is estimated to save more than 45 million Americans an average of $220 each year.
The measure could soon face a vote in front of the entire House of Representatives, giving Steil an opportunity to vote in favor of working families instead of credit card companies and corporate special interests. Currently, a federal judge is also blocking implementation of the rule after a temporary injunction was put in place following a lawsuit filed by the U.S. Chamber of Commerce and big bank special interests. The lawsuit seeks to permanently block the CFPB rule from going into effect—therefore keeping Americans’ credit card late fees high.
The credit card industry has contributed more than $179,500 to Steil during his career, including thousands of dollars in contributions this year alone.
“Working families already face enough obstacles and excessive fees that make it tougher for them to get ahead – high credit card late fees shouldn’t be another thing standing in their way,” said Opportunity Wisconsin Program Director Meghan Roh. “Congressman Steil chose to help the credit card industry, instead of fighting against high late fees that are burdening Wisconsinites. If this proposal comes in front of Congress again, we hope he’ll do the right thing and put his constituents first.”
Ad Transcript: They’re everywhere now. More and more fees on top of what you already pay. And credit card late fees are hitting working families the hardest. But Congressman Bryan Steil voted to let credit card companies keep charging higher fees … four times higher! No surprise, Bryan Steil took all this campaign money from the credit card industry. Tell Bryan Steil to stand up for working people. Stop voting for high credit card fees.
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