COLUMBIA, SC – South Carolina Democratic Party Chair Christale Spain today released the following statement in response to Senator Tim Scott’s efforts to roll back caps on overdraft fees:
“Once again, Senator Tim Scott is putting big banks ahead of working South Carolinians. Overdraft fees are nothing more than a predatory tax on people who are already struggling to make ends meet—families, seniors on fixed incomes, and young workers trying to build their futures. Instead of standing up for the people he was elected to serve, Tim Scott is fighting to make it easier for Wall Street banks to squeeze every last dime out of hardworking folks just trying to get by.”
“Capping overdraft fees was a critical step toward leveling the playing field, ensuring that banks couldn’t take advantage of everyday Americans. But Scott, in his typical fashion, is siding with wealthy special interests instead of the people of South Carolina. This is the same Tim Scott who helped pass billions in tax breaks for corporations while opposing relief for working people. South Carolinians deserve leaders who will fight for their wallets—not the profits of the financial industry.”
“At a time when so many families are struggling with the rising cost of living, it’s shameful that Scott would prioritize bank profits over people. South Carolina Democrats will continue to stand up for working families, fight against these predatory financial practices, and ensure that everyday people—not just the wealthy and well-connected—have a fair shot.”
