Lawmakers are finally listening to their constituents about overdraft fees.

Social Networking and other forms of new media are definitely speaking to those who are making laws.

On Capitol Hill, lawmakers are working on bills that would force banks to curb and better disclose those fees. FDIC chief Sheila Bair has lately become a more vocal critic of overdraft fees, calling them “usurious” during a speech last month.

Separately, the Federal Reserve is working on new rules, which could be ready by year’s end, to prevent banks from automatically enrolling customers in overdraft protection programs without their knowledge.

Anyone who has ever tried to use a gift card with less money on it than they thought understands the concept of not having enough money to pay for their purchase. Why consumers should be charged a fee to pay for an item that they “can’t afford” is beyond me.

When overdraft fees are being called “usurious fees” which is what check cashing fees have also been referred to, lawmakers have actually taken notice.

Consider how much people can make in unregulated fees – consider the as seen on tv products that you can now find at hardware stores instead of ordering from television. The same product which might cost $19.99 plus shipping and handling will cost less if you just pay the tax at the store. Occasionally, the item might be on sale and you will save even more. Handling fees are often subjective. Just as overdraft fees are subjective and allowing consumers to opt out of overdraft protection programs really gives consumers freedom to choose.