In 2011, poor and middle class Americans lost over $30 Billion in overdraft fees to banks.
To put that in perspective, in the same year all Americans lost only $4.8 Billion to actual burgarly.
Banks are taking money from a person when they can least afford it. It can mean no gas to get to work or a day without food.
Banks can instantly, at zero cost, check whether someone has the funds to pay for a purchase. They choose to not use this technology, because they are allowed to charge high fees for an overdraft.
In practice, overdraft fees are not a choice. The complexity of life in America today means you have little control over timing of payments.
We need a law to protect someone's hard earned money from those who were supposed to keep it safe.
Sources: $30B - Moebs. $4.8B - FBI