SC (WMBF) - State leaders proposed a bill that would set aside bank overdraft fees to fund road projects.
Reps. King, Henegan and Gilliard sponsored and introduced the bill Tuesday.
If passed, banks charging an overdraft fee or a fee for insufficient funds would be required to remit the fees to the state treasurer to be credited to the State Highway Fund.
Unauthorized overdrafts strip $16.7 billion each year from checking account holders through fees and practices, according to the Center for Responsible Lending.
The Center for Responsible Lending is a nonprofit, non-partisan organization that works to protect home-ownership and family wealth by fighting predatory lending practices, according to its website.
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