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Cake day: July 9th, 2023

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  • Credit unions would actually be impacted far more from this legislation than banks.

    They don’t have access to the same cash making options that large banks do, and credit unions are also non profit.

    If their fee income was reduced, they would have to make up for it in other areas, such as higher lending rates, which affects more people than overdraft fees.

    Personally, I’d rather deal with overdraft fees than have a higher rate for loans. If you learn to bank responsibly overdraft fees won’t be an issue anyway.