On April 1, 2025, the Senate voted to repeal a Consumer Financial Protection Bureau (CFPB) rule that limited overdraft fees to $5, a move criticized by Democrats as detrimental to working families. This legislation, referred to as the 'Higher Bank Fees Act,' allows banks to charge higher overdraft fees, which could cost consumers an estimated $5 billion annually. Democratic lawmakers expressed their opposition, arguing that the repeal benefits large financial institutions at the expense of everyday Americans. The House is expected to act on this legislation soon, as the rule could become permanent without intervention. Critics, including several Democratic representatives, emphasized that the decision contradicts claims by Republicans that they aim to reduce costs for consumers.