Zach Nunn Votes for Higher Credit Card Fees After Taking Thousands From Credit Card Companies

This week, Zach Nunn voted to block the Consumer Financial Protection Bureau's (CFPB) rule that caps credit card late fees to $8, helping big banks and credit card companies keep costs high for Iowa families.

After Nunn took $22,000 from the credit industry, it's no surprise he'd rather protect profits for big banks and corporations instead of lowering costs for hard working Iowans.

He even stood by silently as the Chair of the House Financial Services Committee falsely claimed families actually want to pay higher fees.

Currently, banks can charge $30 for a first missed payment and $41 for each additional missed payment. According to the CFPB, around 45 million Americans are charged credit card late fees each year, costing the average American who paid late fees over $220 a year and generating nearly $14 billion in revenue for the big banks.

DCCC Spokesperson Mallory Payne:
"Zach Nunn always sides with his big donors over Iowans because he only cares about protecting his political career. This time, he's refusing to lower costs for working families and instead protecting the profits of massive credit card companies and big banks who fund his campaign. Working families will remember who Nunn stands with in November."