Nussle: Broad Classification of 'junk fees’ in SOTU Will Hurt Consumers

February 7, 2023

 February 7, 2023
 Washington, D.C.

CUNA President/CEO Jim Nussle issued the following statement in response to President Joe Biden’s State of the Union address Tuesday:  

“The president’s use of the term ‘junk fee’ is overly broad and ignores the needs of low-income and middle-income consumers who depend on these services to resolve short-term financial difficulties. It does not consider the costs involved in providing needed financial services that consumers depend on. Most importantly, consumers must opt-in to having the option of overdraft protection, and the cost to use it. The people who choose to use the service are the people who pay for the service.   

“Credit unions believe in empowering consumers to manage their finances – and this includes giving them the choice to access a variety of services if they need them. Consumers use overdraft protection as a safety net – protecting them from life’s challenges.   

“Credit unions are constantly adapting overdraft programs to better address the financial well-being of their members. We work with our members to help address those financial challenges and avoid fees if they choose. Without the option of overdraft protection – people are more likely to turn to predatory lenders, hurting the same people the administration seeks to help.” 


About CUNA:
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 130 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit To find your nearest credit union, visit


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