Tag Archives: overdraft fees

The U.S. Senate voted Thursday to overturn a major consumer protection rule that would have capped most bank overdraft fees at $5, a move that consumer advocates say will cost American families billions each year. The nearly party-line 52–48 vote reversed a rule adopted in December by the Consumer Financial …

Casey Quinlan The cost of overdrawing your bank account could ease considerably under a rule proposed last week by the Consumer Financial Protection Bureau. The proposed regulation is in line with a larger effort that the Biden administration has championed the past few years to crack down on “junk fees,” which are …

President Joe Biden on Wednesday announced that the federal consumer watchdog is cracking down on overdraft and depositor fees that often surprise Americans, deeming them unfair and likely violations of consumer protection laws. The move could save consumers more than $1 billion per year, Biden said. Some examples of these …