Joe Holleman
Political correspondent/columnist
Sen. Josh Hawley, R-Missouri
In a split with his own party, U.S. Sen. Josh Hawley was the only Republican senator to vote last week for lower bank fees.
Hawley sided with Democrats in opposing the removal of a $5 cap, instituted last year by the Consumer Financial Protection Bureau, on overdraft fees charged by banks.
Banks, which opposed the cap and argued it would prevent them from offering overdraft protection, now charge an average fee of $35.Â
The Senate voted 52-48 on Thursday to overturn the cap and send the bill to the U.S. House.
that the cap would “save the average working-class household something like $265 a year.â€
“I do not want to give big banks the ability to charge people outrageous sums of money,†Hawley said.
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